Workspace glossary
| Term | Definition |
|---|---|
| Entity | Refers to a legal organization or private/natural persons onboarded on the Banqup platform. An entity can be the owner of one or several spaces. |
| Legal organization | Refers to an entity that is established under the law, with a recognized legal structure and a formal arrangement of rights and obligations. This can include businesses, non-profits, government agencies, and other groups that are organized for specific purposes and are recognized by the law as having distinct rights and responsibilities. |
| Natural person | A natural person is an individual human being, as distinguished from a legal entity such as a corporation, organization, or government. In legal terms, a natural person possesses legal rights and responsibilities, such as the ability to enter into contracts, sue or be sued, own property, and be held liable for their actions. |
| Sole trader | Refers to a business or enterprise that is owned and operated by an individual (a "natural person"), rather than a legal organization. In this context, the natural person is directly responsible for all aspects of the business, including its debts, liabilities, and legal obligations. |
| Legal representative | A legal representative is a natural person authorized by law or by the company’s governing documents to act on behalf of the company and bind it legally in dealings with third parties. |
| Onboarding | Refers to the process of registering and integrating a legal entity with the products, services, and operations of a third party platform. |
| Space | Refers to a digital platform and interface that integrates various financial and document management tools and functionalities. It serves as a centralized hub for entities to manage their business operations. A space is created during the onboarding of an entity on Banqup. More details about spaces. |
| Space owner | Refers to the entity that holds primary administrative control, authority, or ownership rights over a space. |
| Space extension | Apps that can be installed in a space from the Banqup Store. More information on extensions can be found here. |
| User | In Banqup app - refers to an individual or entity that has access to and interacts within a space. In Docs Portal - refers to any person using Docs Portal (developers, product managers, accountants). |
| Business partner (connection) | Also referred to as connection, a business partner is an entity representing any external organization or individual with whom your company conducts financial transactions. |
| Connection relation | Refers to a role type that defines the relation between two connections (business partners). The role types can be: CUSTOMER, SUPPLIER. |
| Counterparty | Refers to the other party involved in a financial transaction, contract, agreement, or business deal, e.g. the customer is the counterparty of the supplier and vice versa. |
| Client | A business or organization that retains and receives professional services or representation from a service provider (such as an accountant). Client can also refer to an application. |
| Consumer | In Banqup app - refers to an individual consumer (natural person) in the context of B2C (business-to-consumer commercial transaction). In Docs Portal - refers to a system or application using the APIs available in Docs Portal. |
| Customer | In Banqup app - A party that purchases products, receives invoices, or enters into a commercial partnership. In Docs Portal - An end-user who uses a software product or application built by one of our direct clients (e.g., an end-user interacting with an app that consumes our Docs Portal services). It can also refer to a user or organization engaging with Banqup Payments platform or external financial institutions. |