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Investments | 12 Months Ended
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Dec. 31, 2020
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Investments |
9. | Investments
|  | 2020 |  |  | 2019 |
|  | Current |  |  | Non Current |  |  | Total |  |  | Current |  |  | Non Current |  |  | Total |
Time deposits |  | $ | 430,000 |  |  | $ | 80,000 |  |  | $ | 510,000 |  |  | $ | 640,500 |  |  | $ | 60,000 |  |  | $ | 700,500 |
Bonds |  |  | 341,854 |  |  |  | 39,796 |  |  |  | 381,650 |  |  |  | 52,573 |  |  |  | 74,634 |  |  |  | 127,207 |
|  |  | 771,854 |  |  |  | 119,796 |  |  |  | 891,650 |  |  |  | 693,073 |  |  |  | 134,634 |  |  |  | 827,707 |
Allowance for expected credit losses |  |  | (1,038 | ) |  |  | (179 | ) |  |  | (1,217 | ) |  |  | (670 | ) |  |  | (287 | ) |  |  | (957 | )
|  | $ | 770,816 |  |  | $ | 119,617 |  |  | $ | 890,433 |  |  | $ | 692,403 |  |  | $ | 134,347 |  |  | $ | 826,750 |
Time deposits earned interest based on rates determined by the banks in which the instruments are held. The use of these instruments depends on the cash requirements of the Company. Time deposits with a contractual maturity of less than 365 days, bear interest at rates ranging between 0.27% and 4.38% (2019: between 2.00% and 3.75%), and those with a contractual maturity of more than 365 have rates ranging between 1.20% and 4.25% (2019: between 3.25% and 4.38%). The Company acquired bonds with semiannual interest payment, the effective interest rates of these investments ranging between 0.21% and 3.32% (2019: between 2.06% and 3.32%). All of the investments at amortized cost are denominated in U.S. dollar, as a result, there is no exposure to foreign currency risk. There is also no exposure to price risk as the investments will be held to maturity. The information about the expected credit loss over these financial assets are disclosed in note 28.3.

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- Definition The entire disclosure for investment property. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2020-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=40&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IAS40_g74-79_TI -URIDate 2020-01-01 + Details
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