Concession agreement

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Concession agreement

An understanding between a company and the host government that specifies the rules under which the company can operate locally.

Concession Agreement

An agreement in which a government, especially a local government, gives preferential treatment to a private-sector company. Generally speaking, a concession agreement involves special tax considerations, and is designed to encourage a company to come to or stay in an area. Governments make concession agreements to promote job growth or stability.
References in periodicals archive ?
IarnrEd eireann is seeking applications from interested parties for the provision of expert advisory services in the area of the development of concession agreements for port operations management including maintenance and potential development opportunities.
A total of 503 concession agreements for extraction of minerals are currently in force in Bulgaria for an area of over 1.
The question before the Supreme Court was whether certain provisions of the concession agreements that undisputedly "related to a price, route, or service" of motor carriers nevertheless escaped preemption because the Port asserted that it imposed these requirements to serve its "business interest" in expanding the Port, rather than in an effort to regulate the drayage market.
In this regard, we have determined certain focal areas such as restricting collusive bidding in public procurement contracts, investigating concession agreements expanding the Office of Fair Trading (OFT) to curb deceptive marketing practices, working on how to restrict associations to their mandate and improving the legal framework on which the Commission is based to more effectively implement this new roadmap.
RECONSTRUCTING CONCESSION AGREEMENTS AS PUBLIC POLICY
Bankruptcy court judge Allan Gropper has approved two more concession agreements between Northwest Airlines and its employee unions.
Against a backdrop of mayoral politics, the Los Angeles City Council rejected a plan on Friday to reverse the Airport Commission's decisions on seven concession agreements.
It gives a general view of the application of project finance techniques to projects of this type and also covers in some detail project viability and public/private sector risk allocation issues, procurement procedures, concession agreements and the sources of financing available for these projects.
The country's government has approved concession agreements for exploration, development and exploitation of shale gas in the aforementioned perimeters signed by the Romanian Mineral Resources Agency and Chevron, dnevnik.
It signed one new water concession agreement and two new sewage concession agreements in municipalities with a joint population of 15,800.
Aloha Airlines' mechanics and related workers have ratified concession agreements.
Fulbright's work included the development of a financing that combined precedent setting payment in lieu of tax-based, tax-exempt securities, among other sources of capital, with long-term public private partnership lease and concession agreements.