Glossary
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.
Shareholder
A natural or legal person who owns shares in a joint-stock company and thereby holds a portion of the company's capital. Depending on the type of shares (ordinary or preferred), shareholders may have different rights. The shareholder has the right to participate in the management by attending the general meeting of shareholders, to receive dividends when profits are distributed, and to exercise other rights provided by law and the company's articles of association, such as the right to information or to a liquidation share upon the dissolution of the company.
Share (of a limited liability company)
A share in the assets of a limited liability company held by each member. Its size is usually determined according to the member’s share of the company’s capital, but the articles of association may specify a different arrangement in accordance with the Commercial Act.
Short Position
Sale of a financial asset that the investor does not currently own, with the expectation that its price will decline, allowing it to be repurchased at a lower price and a profit realized from the difference. A short position expresses a pessimistic market view and is primarily used in derivatives and stock markets.
Simple Interest - glossary for children
Interest added only to the original amount of money.
Skimming (card skimming)
Illegal copying of data from the magnetic stripe of a bank card, with the purpose of using it for unauthorized payments or theft of funds.
Smishing
A method of online fraud using SMS messages containing links to fake websites, urging the recipient to call a phone number under some pretext—such as activating an account, releasing a parcel, or paying customs or delivery fees. The term is a combination of “SMS” and “phishing.”
SMS payment - glossary for children
Paying for goods or services by sending a text message from a phone. The cost is then added to the mobile phone bill.
Partners
