In the webflow system, this url means www.example.com/terms.html and terms is a page at the root.
It’s not yet possible to browse a url like example.weblow.com/products where products is a folder and leads to index.html, index.htm or default.html like usual servers do.
I said it’s “not yet” because many have asked about that possibility and someone from webflow kind of always acknoledge that this would be a good thing. Indeed the closest Webflow stays to the standards, the better it is.