Set date in the Concession Agreement

Aug 6th, 2022
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  1. First, add your Concession Agreement to DocHub.
  2. Next, pick ADD NEW > Select from Device or import your form yourself from the cloud.
  3. As soon as opened, you can start applying changes using features in the top and right-hand tabs. In these tabs, you can find the possibility to set date in your Concession Agreement.
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How to set date 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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Concession Period/s means the period/s over which Concession/s will be granted to the Winning Bidder/s, over a period of thirty (30) years, as per provisions to be defined in the Concession Agreements.
It is commonly used to indicate something that has been conceded (as when the politician who loses a race gives a concession speech, or when someone makes a concession in an argument).
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.
Concession period starts from the signing of the concession agreement between the government and the private sector indicating the span of time within which the private sector is responsible for the construction phase and operation phase in BOT projects.
Concession contracts - partnerships between the public sector and a private company. 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).
concession noun (SOMETHING ALLOWED) something that is allowed or given up, often in order to end a disagreement, or the act of allowing or giving this: Both sides involved in the conflict made some concessions in yesterdays talks.
A concession is typically for a period of 25 to 30 years (i.e., long enough at least to fully amortize major initial investments). Asset ownership typically rests with the awarding authority and all rights in respect to those assets revert to the awarding authority at the end of the concession.
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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