30.12.2022
WHAT IS THE MOST URGENT CHANGE IN LABOR LAW
Comment from the specialist
Despite the unstable political situation, amendments and additions to the Labor Code in Bulgaria were adopted in mid-2022, aiming at the security and predictability of the employment relationship, while preserving its flexibility, as well as improving the possibilities for reconciling work and family obligations.
An important change in this step was the change in the current legislation, which would regulate the individual right of the father (adoptive) to parental leave with a guaranteed right to compensation. Before the 2022 changes, only the mother could enjoy this right.
Through the changes in the Labor Code, some of the rights of employees regarding the information provided by the employer when concluding employment contracts were added, as well as the obligation of the employer to provide information regarding the options and ways to leave work, if the employee so wishes.
Legislation already enables the worker or employee to enter into employment contracts with other employers to perform work outside the working hours established for him under the main employment relationship (external compatibility), unless a prohibition is stipulated in his individual employment contract under his main employment legal relationship due to trade secret protection and/or conflict of interest prevention.
I recall that before the change, the reasons for such a ban were not specified, and thus each employer subjectively had the right to impose a ban on the worker or employee to work in another place. Of course, this does not completely exhaust the changes that were made to the Labor Code in 2022.
What remained unfinished regarding the change in the labor legislation and why it is necessary to take decisive steps towards the legal amendments, answers to the questions are provided by Dr. Todor Kapitanov, an expert in the field of labor law.
Unfortunately, despite the many opportunities on the part of the rulers and despite the serious demands of the workers and the trade union organizations representing them, the problem in the legislation with the regime of introducing the summary calculation of working hours, which for inexplicable reasons in Bulgaria deviates from the international ones, still remains unsolved. requirements, which in practice leads to a deterioration of the health and safety conditions of work, taking away part of the usual free time of the workers and disrupting the balance of the time intended for work, personal time and time for the family.
That is why changes should be urgently made to the legislation, with which the maximum duration of the weekly working time when calculated in aggregate is changed from 56 hours to 52 hours, and such a working regime is only possible in productions with an uninterrupted working regime, as European directives and conventions indicate.
If measures are not taken in this direction, the probability of social tension among workers, expressed through protest actions throughout the country, is extremely high.
Along with inflation and the political crisis in the country, such actions would further deepen the social crisis in Bulgaria. This is another additional reason for the authorities to immediately take action in the direction of regulating the Labor Code in accordance with the requirements of European legislation.
29.12.2022
RIGHT TO SOCIAL BENEFITS IN THE CASE OF A SECOND EMPLOYMENT CONTRACT
According to Art. 111 of the Labor Code, the worker or the employee may enter into employment contracts with other employers to perform work outside the working hours established for him under the main employment relationship (external compatibility), unless otherwise agreed in his individual employment contract under his main employment relationship. Paid annual leave is determined in proportion to the time counted as work experience. The length of service is calculated according to the general rules, being calculated by hours, days and months (Article 355 of the Labor Code). When working under two employment contracts, leave is allowed and used in any legal relationship. There is no obstacle to using a paid annual leave at the same time for both legal relationships in the case of a second employment contract based on Article 111 of the Labor Code.
In the event that the paid annual leave is not used at the same time or leave of different duration is taken, it is possible to apply for the use of paid annual leave from one employer and unpaid leave - from the other employer.
According to Art. 12, para. 8 of the Ordinance on the structure and organization of the salary, the additional remuneration for seniority and professional experience (class) is paid for the time actually worked within the relevant monthly duration of the working time only under the main employment relationship, and in the case of part-time work - under each individual employment contract, until they are supplemented to the corresponding monthly duration of working hours. Therefore, if the main employment relationship is 8 hours, then according to the contract under Art. 111 of the Labor Code, remuneration for work experience and professional experience is not paid.
According to Art. 296 of the Labor Code, the employer provides workers with free work and uniform clothing under conditions and according to the order established by the Council of Ministers or in a collective labor agreement. The Ordinance on free work and uniform clothing (SG, No. 9 of 2011) regulates the order, manner and conditions for providing free work and uniform clothing by employers to employees.
According to Art. 292 of the Labor Code, social, household and cultural services for employees are financed with funds from the employer and from other sources. The manner of using the funds for social, household and cultural services is determined by a decision of the general assembly of workers and employees - art. 293, paragraph 1 of the Labor Code.
Therefore, the funds from the social, domestic and cultural services of the employees are used in the manner determined by the general assembly. In view of the provisions, the employer cannot order the payment or non-payment of funds for social, household and cultural services without a decision of the general assembly of workers and employees.
29.12.2022
ENTREPRENEURSHIP: MY BUSINESS PLAN - WHEN, HOW AND WHY TO UPDATE IT?
Every successful business needs a well thought out business plan. This year is almost over and it's time to quickly check if and what you can change to increase the efficiency of your business and end the year with a sense of satisfaction.
Fact: Businesses that build a business plan at the very start have a 7% higher chance of growth than those that do not rely on one. (Francis J. Greene & Hopp, 2017).
Why do I need to analyze my business plan?
The answer here is simple – because everything changes. You are a different person, your team has evolved, so has the business and industry you work in. These factors give rise to the danger that the goals set at the beginning of the year or when starting the business are no longer relevant.
Here are examples:
Maybe you started with a small online store and a basic service plan in order to validate your idea without risking a large amount. At that point, you've bet your store on low traffic expectations and ignored the need for more than 5 mailboxes because that was the capacity of your team.
Already in the first months, however, the idea proved to be successful, and the product was in demand. You increase your advertising efforts and drive more traffic to the site. Respectively, your team is growing and you need an additional number of professional emails. It's time to move on to the next level with more resources and options to meet your needs.
Similar is the situation where you start with a shared hosting plan, but as your business grows, you feel the need to have your own server space provided by the ManagedVPS service.
Or maybe you started ambitiously, presenting a rich portfolio of products, but sales never reached a level you were satisfied with. A few months in a row filled with financial worries and searching for alternative methods of promotion can be quite frustrating. Even if they make you ask yourself questions like whether you did the right thing at all, is your strategy reasonable, is your site good, etc.
Don't be afraid. By taking the time to rethink the direction of your business development, you can identify gaps at the right time and look for a reliable solution to increase your successes.
How often should I update my business plan?
Many experts say it's a good idea to rethink your business goals at least once a year. We share their opinion, but add that the frequency depends on several important factors:
Your progress so far. Think about how much of your previously set goals you were able to accomplish and over what period of time. When replanning, it is not right to force frequent changes just to note that they are there. Rather, they should be tailored to your gaps and progress to date.
Maybe you thought it would only take a month or two to promote your social media page, but half a year later you're still trying to build an engaged following. This should not discourage you. In the beginning, you hardly had a realistic estimate. Extend the deadline, but don't neglect these channels. Look for alternative quick methods of promotion while you improve yourself.
The development of the industry. Don't be like the fish condemned to not be able to ride a bike, but adapt to the pace of development of the sphere in which you are positioned. Among some businesses, no changes have been implemented in the last 50 years. In others like technology, innovations come daily.
Be flexible and adjust your goals relative to your competitors and customers as their needs change.
It's helpful to create a routine and set aside a few hours each month to read and watch different studies and best practices from businesses similar to yours. This will help you in making correct and timely decisions.
Imagine you are selling homemade honey. It is good to mix the sources of information. Subscribe to a blog, for example, to keep your site and advertising strategy always up to date. However, do not lag behind with the information on improving the technique of keeping the hives, extracting honey and storing it. Quickly apply what you've learned by adjusting your performance.
The new trends. As industries change, so do consumers, generations, laws. From time to time, look at the situation in scale. That way, you'll get out of the details you work with on a daily basis and open your eyes to the big picture. This approach is very useful in setting long-term goals and objectives.
How can I improve my goal setting?
So far we've left quite a bit of food for thought on the plate of your mind, haven't we? Let's get down to practice. Whether you're happy or unhappy with what you've accomplished this year, here's a strategy to help you do even better with goal setting for the next year.
The strategy in English is called SMART and is an abbreviation of the first letters of its main ingredients. Let's see the ingredients of this proven recipe that will help you mix up the most delicious cocktail with goals.
Specific. The more specific and clear your goals are, the easier it will be to achieve them. A subjective and vaguely formulated goal like "I want my business to be the best in the world" sounds enticing, but it doesn't work. Instead, write down the steps you need to take to make your business the best it can be.
Measurable. How will you know you've achieved your goal if you haven't established clear metrics? Let's say you want to increase visits to your online store by the end of the year. This is a clear goal, but to make it measurable, add a number or percentage increase.
"I want to increase visitors to my online store by 20%" is a specific and measurable goal. You can find out how successful it is in just a few clicks using Google Analytics, for example, by tracking the number of visitors over the past 6 months and using that as a starting point.
Achievable. Find out if the goal of increasing visitors to your online store by 20% is achievable by analyzing the market and competitors and by listing the tactics you will implement. What advertising channels will you use? Can you increase your budget to find new people? Can you offer a new feature/addition/benefit to your products or services to attract new users?
If the answers are rather negative, then consider lowering the target or other alternative methods. Strive for a balance between high motivation and challenges. An unattainable but too high target would disappoint you, just as one too easily attainable would make you unnecessarily conceited.
Relevant. And we mentioned above, don't be the fish who suffers because he can't ride a bike. Always match your goals to the situation you are in and your capacity. Ask yourself if with a 20% increase in site visitors, which would potentially lead to more orders, you will be able to serve them well. Better fewer but satisfied customers than very disappointed ones.
Time-bound. The deadline should not be seen as a limitation, on the contrary, it is your guide. Goals left without a deadline often fade over time, and it's far easier to make excuses for not accomplishing them.
Run your entire business plan through this kind of criteria filter to check your clock and validate that you're actually moving in the desired direction. If not, make the necessary changes and move forward boldly.
23.12.2022
JOBSEEKERS WILL BE ABLE TO REGISTER AT AN EMPLOYMENT OFFICE WITHOUT THE NEED FOR AN ON-SITE VISIT
This can be done electronically in accordance with the Law on Electronic Government, through a licensed postal operator or in another appropriate way, published on the website of the Employment Agency.
In case of on-site registration, it can be done at any employment office, regardless of the person's permanent or current address.
This is foreseen by the adopted changes in the Regulations for the implementation of the Employment Promotion Act. The unemployed will be provided with information, counseling, referral services for independent job search or registration in a territorial division of the Employment Agency.
The main objectives are the easing of the administrative procedure for registration in the labor office of jobseekers, the regulation of activities to promote the employment of economically inactive people and the determination of the terms and conditions for financing procedures for validating professional knowledge, skills and competences for the unemployed.
The new regulations reduce the administrative burden for employers applying for employment and training incentives.
To facilitate access to the labor market, labor brokers will guide the unemployed to validate their professional knowledge, skills and competencies. The Employment Agency will publish on its website a list of the institutions that have the right to carry out this validation procedure. The unemployed who wish to join it will submit an application form at the labor offices. For participating in the validation procedure, they will receive funds for a scholarship, transport and accommodation expenses.
23.12.2022
ECB AND BNB WITH AN IMPORTANT AGREEMENT, BRINGING US CLOSER TO THE EURO
An important framework agreement was signed between the Bulgarian National Bank and the European Central Bank, BNB announced. It is linked to the Eurosystem government securities transaction processing platform.
Thus, the Depository of Government Securities, which is owned by the BNB, will be able to offer its participants the so-called "delivery against payment" principle of securities and funds in central bank money.
In 2021, the platform to which the Bulgarian government securities depository is joining processed an average of 700,000 transactions per day.
This is another important step of our financial system on the way to the euro.
23.12.2022
"ARSENAL" IS LOOKING FOR 2000 WORKERS
At the beginning of December, the "Arsenal" weapons plant in Kazanlak opened its office in the center of Stara Zagora, where documents for work will be accepted and forwarded, and anyone who wishes can get acquainted with the available positions on the spot. During the opening, the executive director of "Arsenal" AD and "Arsenal 2000" AD Hristo Ibushev announced that the enterprise is looking for about two thousand workers and specialists in various fields.
"The most important thing is to know that the jobs at "Arsenal" are extremely secure," Ibushev emphasized and pointed out that the company has signed contracts for the next two years. According to him, this year the salaries of the employees of the enterprise have been increased by 63 percent, which is three times higher than the official inflation in the country.
"Salaries are higher than the average for the mechanical engineering sector," he also pointed out and noted that "Arsenal" also offers very good benefits for people with higher education and specialties. "We are one of the few remaining large enterprises in the country, which means that ambitious people have the opportunity to develop professionally," commented Hristo Ibushev and noted that the plant has been the largest employer in the country for over ten years. According to him, the enterprise currently employs about 8,000 people, and in 2015-2016 the number of employees was 11,600.
"We realize that this is quite ambitious, but at the moment our goal is to become 10-11 thousand people," he added. According to Ibushev, the main goal of the opening of the new office is that all interested parties from Stara Zagora and the country can get the information they need on the spot, as well as submit documents for work, without having to travel to Kazanlak for this. "We want to answer our potential workers' questions in person, not over the phone or email," he commented.
Plamen Staykov, head of the "Personnel" department at the company, specified that the variety of positions and professions at the plant is huge. "We have almost 700 types of professions, and the options for working hours are about 48", he pointed out and added that "Arsenal" is one of the few remaining employers in the country that offer a second category of work. "This is quite attractive for many people, because it offers earlier retirement," Stajkov explained. He pointed out that the average salary in the company is currently around BGN 2,050, and there is also a bonus system for each new employee depending on his qualification and position.
"According to this system, each new worker receives between one thousand and two thousand BGN in addition, payable twice - after the third and after the sixth month of his appointment", explained Plamen Staykov. Another social benefit is the free transport, and besides it, the employees from the municipalities of Stara Zagora, Gurkovo and Nikolaevo, who work in the factories in Kazanlak and Maglizh, receive an additional 250 BGN per month for remoteness.
"Every year, all employees at "Arsenal" receive food vouchers worth three thousand BGN - two hundred BGN per month, as well as two hundred BGN on the occasion of Christmas, Easter and the company's holiday in October," commented Staykov. He added that the company also provides free rest in the "Arsenal" hotel complex in Nessebar, which annually benefits about 2,600 people. "The enterprise has medical services, an ambulance, a fire department, a kindergarten, a sports team, and everything is free for the employees," he added.
In 2022, 145 years have passed since the establishment of "Arsenal" AD and 99 years since the establishment of the enterprise in Kazanlak. Over the last few years, the investments made in the company exceed BGN 200 million. In parallel with the renovation of the production workshops, the construction of new facilities and the introduction of modern technological equipment, the company also expands its social program concerning the employees of the companies "Arsenal" AD and "Arsenal 2000" AD.
23.12.2022
"ODELLO BULGARIA": WE PLAN TO HAVE OUR TEAM IN BULGARIA REACH 600 PEOPLE IN 2023
The Turkish Odelo, part of the Bayraktarlar holding, already has a second operating plant in our country. After the manufacturer of headlights for automotive giants such as Mercedes, BMW and Audi put into operation its first base near Plovdiv in 2019, at the beginning of this year a new factory started operations. It separates the production of automotive parts for new cars, which remains in the first factory, from the production of spare parts, which is realized in the second.
The total number of employees in "Odelo Bulgaria" already exceeds 500 people, and 50 people are currently employed in the new base. The plans are to add another 100 people to this team by the end of next year. The company also has a development center in Sofia, which currently employs about 50 people. For 2023, the goal of the lighthouse manufacturer is to reach a total of 600 people employed in all locations.
The company's main customers are Mercedes, BMW, Audi, Dacia, as well as Porsche and Rolls-Royce.
What are Odelo Bulgaria's plans, how many and what type of specialists it plans to hire, how the company sees the future of the automotive industry in Bulgaria - these and other questions were commented by Dimo Nikolov, Human Resources Manager.
Mr. Nikolov, have you officially opened your new plant near Plovdiv yet?
We have not officially opened, as this is a continuation of our current investment anyway. The plant has been operating since the beginning of this year, with the main idea being the separation of the two parts of the business – serial production and production of spare parts. Projects start their life in the first plant. After the period of serial production of cars, which is about 2 years, the project goes to the factory for spare parts. Each of the customers of the current brands we work for, subsequently buying for any reason a part to replace on their vehicle, will have the full guarantee that it is an absolutely analogous product to the one that was in the vehicle when it was purchased as new. Of course, we have other projects that are quite years old, but fortunately, in this part of Europe where we operate - the Balkans, the 3 big German manufacturers BMW, Audi and Mercedes are quite popular and the cars have quite a long history life.
Are they your primary customers?
They are our main customers at the moment in the aftermarket, plus quite a few more exotic brands like Porsche and Rolls-Royce, but the volumes there are much smaller.
Otherwise, in the factory for serial production, in addition to Daimler, we are currently also producing for Dacia from the Renault group. These are still new projects that have not passed for spare parts.
What is the investment in the new plant?
The investment is again quite serious, almost the same as for the first plant, as it has a very large logistics base, with an office part. The total investment is about BGN 50 million. Of course, it is not a one-off, but ongoing. But the investment that is related to buildings, land and infrastructure is in this order.
How many people will be employed in the new plant? And how common are your employees right now?
Odelo Bulgaria recently appointed its 500th employee. This is the number in the factory for serial production and for spare parts plus the development center in Sofia. It is difficult for me to say in the new production that we have started, how many people will work, because to a large extent the work in it is also supported by the factory, which is for serial production, i.e. departments like "Maintenance", "Logistics" , even purely operational departments such as New Projects, are responsible for both plants. But in terms of pure production, the direct staff is currently around 50 people. This is just the beginning. For next year, we plan to add at least 100 more people to this team. Our plan for 2023 is for the odelo Bulgaria team in all locations to reach 600 people. And so let's continue to add 100 people for the next few years. We are deliberately making a smoother growth, as the automotive industry is both rapidly developing in Bulgaria, and there are quite a few staff. So for next year we are mainly focused on team building and training.
We created an odelo academy in Plovdiv, which continues to create middle and higher level managers. Most people who hold any kind of management position with us come from within. We try to build the teams and train people in what they will actually need in the future on the job.
How do you see the potential and challenges of the automotive industry in Bulgaria?
The infrastructure in Bulgaria is already ready for a large car manufacturer, as we lost a few years ago in the face of Volkswagen. But I already think we are ready and very soon it will happen. I believe that in the next 5 years such a car manufacturer will come to Bulgaria. Who will he be? I have some ideas, but everything is still in preliminary discussions.
How would this affect subcontractors like you?
From the HR director's point of view, it will not affect well as there will be a displacement in the labor market. But surely the effect will be good. The automotive industry developed very dynamically in Bulgaria. Many universities have already responded and started training personnel for the industry.
The other part of the automotive industry that it cannot do without is development. It also "exploded" in the last few years, especially here in Sofia. There are large development centers. Against this background, ours is still a bit more boutique, with a staff of around 50 people. But in reality, when one sees a new Mercedes on the street, the lights on it are designed and manufactured here in Bulgaria. This is the most important part of the business, because we are not just one producer of ishleme, as some Bulgarian companies were in the past. The added value is really very big.
That's why I say we're almost done. Because the automotive industry in Bulgaria produces lights, software, cables, seats, etc. So very soon this will happen.
22.12.2022
HOW DO I CARRY OVER MY HOLIDAY TO THE NEXT YEAR?
The use of paid annual leave can be postponed to the following calendar year by both the employer and the employee:
The Labor Code provides that the worker or employee uses their paid annual leave until the end of the calendar year to which it relates. When the use of the paid annual leave is postponed by the employer for the following year, in this case the worker/employee is provided with the use of no less than half of the paid annual leave due to him for the calendar year. In case of postponement by the worker/employee, he/she may have postponed all or part of the paid annual leave. Leave is postponed at the request of the employee and with the consent of the employer. The consent of the employee and the employer is sufficient for the leave to be postponed for the following year.
When the leave is postponed or not used until the end of the calendar year to which it refers, the employer is obliged to ensure its use in the following calendar year, but no later than 6 months, counting from the end of the calendar year to which it refers lays When the paid annual leave or a part of it is not used until the expiration of two years from the end of the year for which it is due, regardless of the reasons for this, the right to use it is extinguished by statute of limitations.
The law establishes that at the beginning of each calendar year, but no later than January 31, the employer is obliged to notify each worker or employee in writing of the amount of paid annual leave they are entitled to use during the calendar year, including deferred or unused from previous calendar years.
Reference:
Art. 176, para. 1 of the Labor Code
Art. 173, para. 5 of the Labor Code
Art. 176, para. 1, item 2 of the Labor Code
Art. 176, para. 2 of the Labor Code
22.12.2022
BY HOW MUCH DO REAL INCOMES DECREASE IN OUR COUNTRY?
A decline in real incomes in the third quarter of this year, reports the Ministry of Finance. Labor income in the country continues to rise at a double-digit rate, with the average wage in the economy as a whole rising nominally by 14.7% on an annual basis, according to the data from the Monthly Review of the Bulgarian Economy.
Current wage growth is accelerating compared to the previous three months of the year, which is entirely due to the public sector, while nominal wage growth in the private sector is unchanged compared to the second quarter (15.4%). In real terms, the average wage, deflated by the consumer price index, declined by a minimal 0.4% year-on-year. The highest rate of wage growth was observed in trade (17.3%), government (17.3%) and administrative and support activities (16.9%).
Monthly inflation in October was 0.6% according to the Harmonized Index of Consumer Prices, the overview also states. The increase in prices in the group of food and non-alcoholic beverages by 2.4% compared to the previous month has a leading contribution (0.55 percentage points) to the increase of the general index. To a large extent, this is due to higher prices for processed foods and to a much lesser extent for unprocessed foods.
Non-energy non-food goods also reported an increase in price - by 1.9% compared to September, and this was influenced by medicinal products, as well as the seasonal increase in the prices of clothing and shoes. Energy goods recorded a 3.6% decrease in price during the month, after lower prices were recorded both for transport fuels by 2.2% and central gas supply by 30.8%. Services also saw a minimal decrease of 0.2% mainly due to lower prices of air tickets as well as accommodation services.
The annual rate of inflation expectedly started to slow down and reached 14.8% in October. This is due to lower inflation for energy goods and a corresponding contraction of their positive contribution on an annual basis. Together with food, they continued to form about 60% of the increase in the overall index compared to the same month in 2021. Core inflation (the overall index excluding energy and unprocessed food) continued to accelerate to 13.3% on an annual basis.
The annual growth rate of credit to the private sector slowed in September for the first time since the start of 2022, reporting growth of 13.6%, down from 13.9% at the end of the previous month. This is due to the slower growth of loans to non-financial enterprises, while loans to households accelerated minimally.
Corporate loans increased by 11.4% on an annual basis, compared to growth of 12.1% at the end of August. This comes after the growth rates of medium-term loans and overdrafts were negatively affected by a base effect from their larger increases in September 2021. Loans to households increased by 15.3% year-on-year at the end of September at 15.1% at the end of the previous month, driven by the faster growth of consumer loans (13.9% against 13.5% in August). Home loans grew by 18% year-on-year, maintaining their pace from the previous month.
The weighted average interest rate on loans to non-financial enterprises and households rose by 42 basis points to 4.19%, with the main contribution to this being the rate on corporate loans (increase by 58 bps), while the price of consumer and housing loans decreased accordingly with 5 and 3 bps The average return on time deposits remained unchanged compared to August at the level of 0.63%.
21.12.2022
HOW TO GET RID OF A TORN BANK NOTE?
Many people do not know what to do if torn, worn or deformed banknotes and coins fall into their hands. In fact, such banknotes can be exchanged at any bank, incl. and BNB. How this is done is described in Ordinance No. 18 of the BNB on quality control of banknotes and coins. The "Active Users" Association explains what the procedure is.
Before exchange, the bank employee checks the authenticity of the money. If there are suspicions of forgery or intentional damage, this money is seized by the relevant institution and handed over to the BNB for examination, and a document is issued for the "arrest".
Not every note or coin is accepted for exchange. There are criteria for "allowable" damage and these are described in the regulation:
- banknotes that are damaged to a minor extent by written notes, numbers, strokes of a pencil, pen, pen or other type of writing/printing means;
- coins damaged by oxidation or wear;
- banknotes damaged as a result of activated anti-theft devices, which have been found not to be the subject of a crime.
Replacement is done after evaluation
A damaged banknote, of which at least 3/4 (75%) of its area is preserved or the assembled parts of the banknote restore such part of its area, is replaced at full face value;
A damaged banknote, of which at least 1/2 (50%) of its area is preserved, is replaced by half of its face value;
A damaged banknote of which less than 1/2 (50%) of its area is preserved, or the assembled parts of the banknote restore such part of its area, is not replaced;
A banknote assembled from parts of different notes is valued by applying the above rules to each separate part;
A damaged coin, on which the obverse and reverse images are recognized, is replaced at full face value;
If the obverse and/or reverse images are not recognized, the coin is not replaced;
If only the inner circle is preserved and the obverse and reverse images are recognized, the coin is replaced at full face value;
If the metal vapor is perforated or cut, it is not replaced.
Two tips from "Active Users":
- When shopping, if you are returned a worn note or coin, it is best to immediately ask for a more secure token. The merchant must set aside this money and exchange it for new ones at a bank.
- If you find a worn or torn banknote in your wallet, don't try to push it to a cash register, just go to exchange it at the bank office most convenient for you.
