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Paid time off, planned time off, or personal time off (PTO), is a policy in some employee handbooks that provides a bank of hours in which the employer pools sick days, vacation days, and personal days that allows employees to use as the need or desire arises.
Severance pay in Luxembourg upon termination of a work contract becomes due after five years' service with a single employer, provided the employee is not entitled to an old-age pension and the termination is due to redundancy, unfair dismissal, or covered in a collective labor agreement. [32] The statutory amount of pay depends on years of ...
The conditional bill of sale refers to any assignment or transfer of personal chattels to a person by way of security for the payment of money. The conditional bill of sale creates a security in favour of the grantee of the bill whereby the grantee is given personal right of seizure giving right to a security interest of a possessory nature.
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
Separation of duties (SoD), also known as segregation of duties, is the concept of having more than one person required to complete a task. It is an administrative control used by organisations to prevent fraud , sabotage , theft , misuse of information, and other security compromises.
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
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