::Glossary (S)::

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Salvage Monies (or any advantage) available to an Insured to reduce the amount due from an insured buyer at the date of insolvency or crystallisation date, whichever is the earlier.

Secured Charges Created when a company borrows money against security. The company is then required to register information about such charges at the Company's Registry.

Share Premium The amount paid to a company by shareholders, in cash or other consideration, over and above the amount the nominal value of the shares issued to them.

Shares The nominal capital of a limited company is divided into shares which may be in units of £1 or more, or 50p or as small as 0.05p. There are three main types of shares, Preference Shares, Ordinary Shares and Deferred Shares.

Shell Company A limited company that has never been started, or has ceased its trading but has not been dissolved. Annual Returns are filed, but accounts state that the company did not trade during the year.

Specific Account Policy A Credit Insurance policy which bases its cover on certain specified buyers. The named buyers are the only ones covered. Premium may be focused on a fixed amount or on the balances declared at the end of an agreed period.

Standard Industrial Classification Code. Used to classify industrial trades.

Status Agency A company which sells reports on companies and individuals.

Stock and Work In Progress Represents the current estimated value of stocks after allowing for any deduction in respect of damaged or obsolete stock together with the director's assessment of the value of the work in progress.

Subsidiary A company which is over 50% owned by another company.