Easily Insert Comments in the Concession Agreement

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How to Insert Comments in the Concession Agreement

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A concession or concession agreement is a grant of rights, land or property by a government, local authority, corporation, individual or other legal entity. Public services such as water supply may be operated as a concession. In the case of a public service concession, a private company enters into an agreement with the government to have the exclusive right to operate, maintain and carry out investment in a public utility for a given number of years. Other forms of contracts between public and private entities, namely lease contract and management contract, are closely related but differ from a concession in the rights of the operator and its remuneration. A lease gives a company the right to operate and maintain a public utility, but investment remains the responsibility of the public. Under a management contract the operator will collect the revenue only on behalf of the government and will in turn be paid an agreed fee. A grant of land or property by a government may be in return

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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).

What is a concession in business terms?

In a concession, a company is remunerated mostly through being permitted to run and exploit the work or service and is exposed to a potential loss on its investment.

What is model concession agreement?

What is Model Concession Agreement? MCA is a legal contract that forms the basis of public private partnership (PPP) projects in India. It lays down the terms and conditions for executing a road project till a private firm operates. It states the policy and regulatory framework for implementation of a PPP project.

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 the difference between a concession and a lease?

The definition of a rental concession is a compromise a landlord makes to the original lease terms in the hopes of attracting or keeping a tenant. This means it can range from modifying the lease terms, tenant permissions, or other benefits mutually agreed upon.

What is the difference between a concession and a lease?

The definition of a rental concession is a compromise a landlord makes to the original lease terms in the hopes of attracting or keeping a tenant. This means it can range from modifying the lease terms, tenant permissions, or other benefits mutually agreed upon.

What are the conditions for concession agreement?

The conditions in a concession agreement can include payment of fees, percentage of revenue made or being liable for the cost of maintaining the facility.

What is meant by concession agreement?

Key Takeaways. A concession agreement is a contract that gives a company the right to operate a specific business within a governments jurisdiction or on another firms property, subject to particular terms.

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.

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