Glossary
Secured Bonds
Bonds that are backed by assets, such as real estate, equipment, or other valuable assets, which serve as collateral for investors.
Secured Loan
A loan for which there is direct collateral – a guarantee for its repayment, linked to the pledge of property.
Secure Payment Method - glossary for children
A way of paying that protects money and personal information so that no one else can use them without permission.
Securities
Written documents through which property, debt, or other rights are exercised. They represent financial instruments used for investing capital. Examples of securities include stocks, bonds, shares in mutual funds, and other investment instruments.
Self-Employed Person
An individual who carries out independent economic activity or business as a natural person and is responsible for the payment of social security contributions and taxes. Self-employed persons are registered in accordance with tax and social security legislation and submit declarations of their income and contributions. They may offer goods or services on the market, generate profit and, where necessary, employ other persons, while bearing full responsibility for their financial and social security obligations.
Self-Employment - glossary for children
When a person works for themselves, not for someone else, for example as a craftsman or the owner of a small shop.
Self-Insured Person
A self-employed person who carries out professional activity on their own account and is responsible for their own social and health insurance. This category includes persons practicing liberal professions, farmers, sole traders, and owners or partners in commercial companies, among others. They are insured based on the income from their professional activity, submit an annual tax return, and pay the corresponding social security and health insurance contributions. Note: The term self-insured is used in official English translations of Bulgarian documents to represent this status, but in general English it usually refers to someone who bears an insurance risk without involving an insurance company.
Service - glossary for children
Something done for someone else for payment.
Severance Pay (upon termination of employment after acquiring the right to a pension for insured length of service and age)
A one-time monetary payment owed by the employer to the employee upon termination of the employment contract when the individual has already acquired the right to a pension for insured length of service and age under the Social Insurance Code. According to the Labour Code, the severance pay is equal to two months’ last gross salary, or, if the individual has completed 10 years of employment within the last 20 years with the same employer or within the same group of companies, it amounts to six months’ gross salary.
Share
A security that confers specific rights. It represents ownership of a portion of the capital of a joint-stock company, and its purchase constitutes the acquisition of an ownership stake.
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