What is Per Annum? Per annum refers to a duration of one year, or on a yearly basis. The term is commonly used in regard to a sum due at intervals of one year or over the course of a year.

How long is per annum?

What is Per Annum? “Per annum” is a Latin term that means annually or each year. When it comes to contracts, per annum refers to recurring obligations or those that occur each year throughout an agreement. For example, if a bank charges an interest.

Does per annum mean 12 months?

Per Annum means amount per year. Per Annum means twelve (12) calendar months.