Insurance cover which you can buy when booking a holiday at a travel agency. If you cannot make the trip, part or all of the price will be reimbursed to you. What is covered by the insurance is laid down in the contract.
A government institution that is responsible for monetary policy and supervision of the banking sector in a given nation or group of nations with a single common currency. Central banks keep currency reserves, provide funding to the banking sector and the government and issue the currency. The name of Austria’s central bank is Oesterreichische Nationalbank.
In banking, fees or other amounts that a bank demands from its customers in return for its services.
A loan taken out by a private individual to buy consumer goods.
Consumer price index
The consumer price index (CPI) is a measure of inflation. It is based on the price of a specific mix of consumer goods, the “market basket”, which is measured every month. Price changes are published as a percentage and are collated over time to create the index. The market basket is reviewed and adjusted every ten years.
All policies and regulations that protect consumers against excessive prices, products that are unsafe or a health threat, and other damage they may suffer as a result of purchasing goods or services.
The contribution margin is that portion of total sales revenue that is available to cover a company’s fixed costs, which it has to cover independently of sales volumes. It is the difference between total sales revenue and the variable costs of the product, which arise in proportion to the number of units sold.
A special asset pool held by insurance companies, banks and other institutions whose business involves management of customers’ assets. The cover funds are a reserve held to secure customers’ claims and assets.
The Latin verb credere means to trust. Credit is based on trust: The person who lends money (the creditor) trusts the borrower (debtor) to repay the debt. If a person has credit it means that others trust that he or she will be able to repay a loan, including interest due, from his/her assets or future income. The specifics of credit – amount, interest rate, term of the loan – are laid down in a loan contract.
The lender in a loan relationship, who has a rightful claim to be repaid by the debtor (borrower).
A credit card can be used for cashless payments, either when you are out shopping or in online transactions. The credit card company transfers due amounts to the recipients and charges the balance to the card owner’s account on a monthly basis.
A credit rating is a measure of creditworthiness. It is an assessment of a person’s, company’s or other organisation’s ability to repay debt. Credit ratings are also applied to whole states. With poor credit ratings, it is hard to get credit.
A credit transfer, or bank transfer, is the cashless transfer, executed by a bank, of an amount of money from one account to another.
A form of project finance that brings together many people who each invest a small amount. Usually they will receive some sort of compensation for it. That can be money, but the funders could also be the first people to receive a new product whose production has been funded by them.