Glossary
Loan agreement
An agreement under which the bank undertakes to provide the borrower with a specified amount of money for a defined purpose and under agreed terms and duration. The borrower undertakes to use the funds according to the agreement, repay the principal after the term expires, and pay the agreed interest. The agreement contains detailed information about both parties, the loan parameters, conditions for disbursement and repayment, a repayment schedule, fees, commissions, and additional expenses, as well as the borrower’s rights, including the possibility of early repayment, the right of withdrawal, measures in case of default, and the availability of out-of-court dispute resolution mechanisms.
Loan - glossary for children
Money borrowed from a bank or a person that must be paid back later.
Local Fee - glossary for children
Money paid to the local authority for a specific service, such as waste collection or issuing a document.
Local Fees
Mandatory monetary payments made by citizens and businesses to the municipality in exchange for a specific service provided by it, including the collection of household waste; use of markets, fairs, marketplaces, sidewalks, squares, and streets; use of nurseries, kindergartens, daycare kitchens, and similar facilities; municipal social services; technical and administrative services; purchase of burial plots; activities for general support under the Pre-school and School Education Act that are not funded by the state budget and are carried out by centres for personal development support; dog ownership; and other local fees established by law.
Local Government - glossary for children
The people who manage towns and villages. They take care of important things like streets, parks, schools, and other services. The municipal council decides what needs to be done, and the mayor and administrative staff carry out the plans and make sure everything works properly.
Local Taxes
Mandatory tax payments by citizens and businesses to the municipality, regulated by the Local Taxes and Fees Act and specified by the municipal council. They are used to finance local activities and services such as infrastructure, education, transportation, and others. Local taxes apply to real estate, inheritances, donations, acquisition of property for consideration, vehicles, licensed business activities, tourist tax, taxi transport tax, and other local taxes established by law.
Local Tax - glossary for children
A tax that people and businesses pay to the local authority because they own houses and cars or provide tourist and taxi services.
Long Position
A situation in which an investor buys a given asset (or enters into a transaction equivalent to a purchase) with the expectation that its price will rise. The goal is to generate a profit by subsequently selling the asset at a higher price. A long position reflects an optimistic market outlook and is used both in trading physical assets and derivatives.
Loss Limitation (Mitigation)
Strategies employed by traders for risk management to protect themselves from potential losses, for example, in case of incorrect predictions regarding the price movements of financial instruments.
Management and Control Contract
A contract concluded between a company and a person who will perform management functions in the company, usually as a managing director, chief executive officer, or member of a management/supervisory body.
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