A term is the smallest element of the assembler language that represents a distinct and separate value. It can, therefore, be used alone or in combination with other terms to form expressions. Terms are classified as absolute or relocatable, depending on the effect of program relocation upon them. Program relocation is the loading of the object program into storage locations other than those originally assigned by the assembler. Terms have absolute or relocatable values that are assigned by the assembler or that are inherent in the terms themselves.

A term is absolute if its value does not change upon program relocation. A term is relocatable if its value changes by n if the origin of the control section in which it appears is relocated by n bytes.