Glossary
Commission
A fee paid to a person or organisation for mediation, rendering a service, or facilitating a transaction. It is usually calculated as a percentage of the transaction value or as a fixed amount agreed upon in advance.
Commission - glossary for children
An extra amount of money paid for a service.
Compensation
The sum of money paid to an injured party in order to restore them to their original position ("make whole") following a loss, damage, or injury.
Complaint
A written or oral statement by a natural or legal person expressing dissatisfaction or objection to the actions, decisions, or services of an institution, authority, enterprise, or individual, requesting an investigation and the taking of measures to resolve the problem or restore infringed rights. For example, if a consumer’s rights have been violated by a trader, they may file a complaint with the Consumer Protection Commission, describing the violation, attaching supporting evidence, and making a specific request for the desired outcome.
Compound Interest
Interest calculated by adding the interest from the previous period to the principal, so that the interest in the next period is calculated on the increased total.
Compound Interest - glossary for children
Interest added to both the original money and the interest already earned.
Comprehensive Car Insurance (Casco)
Voluntary property insurance that covers damage to the policyholder’s own vehicle caused by various events. Such events may include natural disasters, traffic accidents, theft or robbery, intentional actions by third parties, as well as property damage occurring during manoeuvring and parking.
Compulsory Health Insurance
A system in which all citizens are legally required to pay health insurance contributions, the funds from which are accumulated in the National Health Insurance Fund and used to finance essential health services, medical care, preventive check-ups, and treatment, with the aim of ensuring access to healthcare for all covered individuals.
Compulsory Social Insurance Contributions
Amounts paid monthly by employed individuals, their employers, and self-employed persons into various state funds — for example, pension, healthcare, unemployment, and occupational accident funds. These contributions aim to provide protection and assistance in the future, such as retirement, unemployment, illness, or accidents.
Conciliation Committee
An authority under the Commission for Consumer Protection (CCP), established for out-of-court resolution of disputes between consumers and suppliers of products and services.
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