Looks like the <label> tag is rendered empty for Term Fields added via Types. I tested a clean WP 4.9.1 install, 2017 theme and only Types plugin installed.
When you view a Taxonomy in the WP admin to set values for the Types fields, the <label> tag is empty; the content that should be inside is instead in the <th> in the left rail. This might be a limitation of the WP admin presentment of the fields, but I thought I'd report it just in case. The actual functioning of the Types fields is fine.
Sure - I would have included with the ticket, but your new system doesn't let you add images.
Here you can see the admin screen for TERM FIELDS and the HTML - the labels ("Simple Textbox" and "Test Checkbox") are in the left sidebar of the page, not in the <label> tag right above the input.
(Compare this to Post Fields, where the label tag is filled with text)
Sorry, Minesh is on vacation, so I will take over here if that's okay.
I checked for myself and saw that on the page that lists the categories the label was filled correctly (see my screenshot), but on the individual term page it is as you describe.
The presentation on that page—as determined by WordPress—is slightly different, using tables to display the labels and fields in two columns. I can only assume that the developers had a reason for doing it like this at the time.
I could pursue this and escalate it to the developers to review, but I'm pretty sure that as it makes no functional difference and given how busy they are working on the post relationships update this would receive very low priority.
If you want me to present it to them I will, otherwise let me know that it is okay to close the ticket, thanks.