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Disposal of the right of property over an immovable asset; collateral in credit contracts.

Obligatory RCA insurance

Any physical or legal person owning vehicles licensed in Romania or abroad can be insured. Indemnifications are paid directly to the physical or legal persons injured, to the extent that these have not been indemnified by the Insured.

Operative leasing

According to GO no.51/1997, republished, operative leasing is the leasing operation which does not meet any of the conditions of financial leasing and can be seen as simply rental of goods.


The granting by a banker to its client of a credit of up to the initial amount with which the latter opened their current account.


Immovable or movable asset which is mortgaged or placed as collateral in favour of a creditor as a guarantee of the debtor’s fulfilment of their payment obligations; it can also be a person’s pledge to pay the debts of another unable to honour them.

Promissory note

Paper through which the issuer, called underwriter, acknowledges himself as debtor to the beneficiary and binds him/herself to pay on his/her own initiative or at the beneficiary’s order a determined amount of money at a certain date.

Residual value

Value at which the transfer of the right of property is done at the end of the leasing period. If the goods which are the object of the leasing contract are bought at the end of the leasing period, customs import rights are owed at the residual value of the good, which cannot be smaller than 20% of the initial value of the respective good at the time of import.

Shareholders’ equity

A company’s share capital (the shareholders’ capital) to which are added reserves and unallocated profit.

Stock quote

Listing on the stock exchange of the price of a security (share, bond, Treasury bond, etc.)


The global sum of product and service sales of a company over a given period. It serves to measure a company’s volume and evolution of the commercial activity.


Value Added Tax is an indirect tax owed to the state budget.