Translation glossary

An auditor is the person who carries out the audit.

Automatic Public Contribution is public funding automatically allocated to a project partner from national/regional sources. Some Member States/regions provide public support to organisations in their territories in order to facilitate their participation in cooperation programmes. The decision to grant public national/regional funding is normally linked to the project selection process, and is taken by the respective Member State/regional authority before or after project approval. Automatic public contribution comes from sources external to the partner organisation; i.e., it is different from resources provided by a public organisation that is itself involved as a project partner.

Bank charges are fees levied on an account by a financial institution. A bank charge can result from the account holder not maintaining a minimum balance, for overdrafts, or from any of a wide variety of other banking activities and actions. Also called bank fee.

A bak guarantee is a type of guarantee in which a bank or other lending organisation promises to repay the liabilities of a debtor in the event that the debtor is unable to.

A bank statement is a report released (on a fixed date every month) by banks that lists deposits, withdrawals, checks paid, interest earned, and service charges or penalties incurred on an account. It shows the cumulative effect of these transactions the account's balance, up to the date the report was prepared.