> For the complete documentation index, see [llms.txt](https://developers.term.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://developers.term.finance/term-finance-protocol/term-repo/term-repo-token.md).

# Term Repo Token

The Term Repo Token is an implementation of the ERC-20 smart contract standard that track claims to the aggregate repurchase price due on the repurchase date (the total amount due at maturity) across all borrowers to a Term Repo deployment. The Term Repo Token is typically normalized to be redeemable 1:1 for the purchase token in which a Term Repo deployment is denominated on or after the Repurchase Date (subject to a [repurchase window ](/term-finance-protocol/terminology.md#repurchase-window)that typically lasts 12-24 hours).

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[Initialization Parameters](/term-finance-protocol/term-repo/term-repo-token/initialization-parameters.md)
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[Administrative Functions](/term-finance-protocol/term-repo/term-repo-token/administrative-functions.md)
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| Contract                                                                                                                                               | Description and Key External Functions                                                                                                                     |
| ------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |
| [<mark style="color:yellow;">`TermRepoToken.sol`</mark>](https://github.com/term-finance/term-finance-contracts/blob/main/contracts/TermRepoToken.sol) | <mark style="color:yellow;">ERC-20 contract to track claims to the aggregate repurchase obligations due on the repurchase date across all borrowers</mark> |
|                                                                                                                                                        | `<no public functions>`                                                                                                                                    |
|                                                                                                                                                        | `totalRedemptionValue` - total purchase tokens redeemable at maturity                                                                                      |