Easily Insert Fileds from the Concession Agreement

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How to Insert Fileds from 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 an example of a concession in business?

The term concession is also used in the private sector to denote contracts to operate a store-within-a-store and similar arrangements. For example, a hotel that grants a concession to a small business or chain to run a convenience store in its lobby.

What is meant by concession agreement?

A concession or concession agreement is a grant of rights, land or property by a government, local authority, corporation, individual or other legal entity.

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 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.

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 a concession agreement between public and private entity?

A concession agreement is an agreement between a Government Authority and a Private entity, through which the Government grants certain rights to the Private entity for a limited period of time. These agreements are common in the development of infrastructural projects under the Public-Private Partnership (PPP) model.

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 is an example of concession in government?

Examples of administrative concession include the cession of part of the public roadway for setting up restaurant terraces, as well as the concession of use of an area sports center or that of oil extraction.

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