Easily Hide Arrow from the Concession Agreement

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How to Hide Arrow from the Concession Agreement

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What are the key features of a concession agreement?

Concession agreements usually define the period of operation and insurance requirements, as well as fees. Payments to a property owner may include rent for the location, a percentage of sales revenue, or a combination of the two. Any additional expectations can also be spelled out in the agreement.

What is the difference between a concession and a contract?

In a public contract, companies receive a fixed amount for carrying out a project or providing a service. With a concession, companies remuneration mainly consists of the authorization to manage and use a work or service, which entails the risk of possible losses in the investments made.

What is the purpose of a concession agreement?

Concession contracts are used by public authorities to deliver services or construct infrastructure. Concessions involve a contractual arrangement between a public authority and an economic operator (the concession holder).

How do you read a concession agreement?

Some of the essential clauses in a concession agreement are as follows: Definition clause. Scope of the project. Grant of concession. Concession period. Conditions precedent. Damages for delay by the authority. General obligation of the concession holder. General obligation of the authority.

What does concession agreement in a PPP project refer to an agreement for?

Concessions. In this form of PPP, the Government defines and grants specific rights to an entity (usually a private company) to build and operate a facility for a fixed period of time. The Government may retain the ultimate ownership of the facility and/or right to supply the services.

What is an example of a concession agreement?

For example, a concession agreement exists between the governments of France and the U.K. and two private companies regarding the Channel Tunnel. The British Channel Tunnel Group Limited and the French France-Manche S.A. operate the Channel Tunnel, often referred to as the Chunnel under this agreement.

What are the different types of concession contracts?

There are different types of concession contracts, including: ex-leasing, franchise, build- operate-transfer (BOT) etc. Private finance initiatives (PFIs) may also be considered similar to concessions.

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Hide Arrow from the Concession Agreement