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How to Redact Concession Agreement Template

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A concession or concession agreement is a grant of rights, land, or property by a government or other legal entity, often applied to public services like water supply. In a public service concession, a private company receives exclusive rights to operate, maintain, and invest in a utility for a specified period. Related contracts, such as lease contracts and management contracts, differ from concessions in operator rights and compensation. A lease allows a company to operate and maintain a utility, while the public retains investment responsibilities. In a management contract, the operator collects revenue on behalf of the government, receiving an agreed fee in return.

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What are examples of concession agreements?

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 fee expense?

Concession Costs means leasing commissions, legal expenses, and all other costs such as construction allowances, rent concessions, moving expenses, incurred in leasing, subleasing or assigning a lease or this Lease.

What is the difference between concession and lease?

First, a concession agreement gives limited rights to use the property for any specified use, whereas a lease agreement creates an interest in the property to the lessor. Second, a concession agreement doesnt create any inherent property rights, whereas a lease creates interest on the owners property.

What is a concession agreement in oil and gas?

Petroleum Concession Agreement or PCA means an agreement pursuant to which the GoP grants to the parties thereto an interest in a Petroleum concession, which interest is subject to the rights, obligations, and liabilities imposed by the applicable petroleum laws of Pakistan, including the enjoyment of the exclusive

What is an example of concession business?

When you think of a concession business you might think of the corn-dog booth at the state fair. Thats one kind, but its not the only one. For example, state parks contract with businesses to offer food. Fine jewelry is offered through concession stands in department stores.

Who grants a concession?

Under a concession agreement, the government grants a private entitythe concessionairethe exclusive right to build an asset and to operate and maintain it for the agreed term of the concession.

What is the difference between concession agreement and lease?

A lease is an interest in a property whereas a concession is a grant of a license to operate on the property but doesnt carry any inherent property rights. A lease is a grant of possession over a definite description of the land or other property in return of a definite price and payment arrangement.

What is concession arrangement?

A service concession arrangement is an arrangement whereby a government or other public sector body contracts with a private operator to develop, operate and maintain an infrastructure asset such as a road, bridge, tunnel, airport, energy distribution network, prison or hospital.

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Redact Concession Agreement Template