Concession agreement

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 ?
Request for Proposal: Concession agreement for the rental of canoes & kayaks
A concession agreement to build a ski zone in Bansko passed by the previous elected government in 2013 has been revised by the cabinet, officials say.
It may be noted that Federal Information and Broadcasting Minister Qamar Zaman Kaira while briefing the media on Wednesday after cabinet meeting said that Cabinet considered and accorded permission on allowing of concession agreement from Port of Singapore Authority (PSA) to the China Overseas Port Holding Ltd, (PRC).
According to the company officials, the rates have been hiked in accordance with the concession agreement with the Noida Authority, as per which it can revise the toll every year.
It was initially expected that the concession agreement with the strategic investor, the Japanese company Hitachi, would be signed by the end of June, while now signing of the agreement has been postponed until the end of the year.
today announced that the Company has agreed to the Concession Agreement with the Lithuanian Energy Ministry regarding construction of the Visaginas nuclear power plant planned for Lithuania.
Shell Aviation (SAV) has signed a fuel concession agreement with Dubai Airports to operate as a fuel supplier at the new Dubai World Central-Al Maktoum International airport.
THE Government of Oman has signed a concession agreement with Harvest Natural Resources, a US headquartered international energy firm, for the exploration of gas in Block 64, an area straddling the boundaries of the Dakhiliya and Wusta regions.
GOP will shortly announce the beginning of the auction procedure for potential investors to bid for a build operate and transfer (BOT) concession agreement.
The Government of Oman has signed a concession agreement with Harvest Natural Resources Inc, a US headquartered international energy firm, for the exploration of gas in Block 64, an area straddling the boundaries of the Dakhiliya and Wusta regions.
following alleged instructions by government to terminate a concession agreement to expand and improve the Phillip SW Goldson Intl Airport in Belize City, reports financial newsletter Offshore Alert (Dec.
The lawsuit sought to annul the Government's decree approving the December 31, 2003 agreements implementing the restructuring of the project; the 2003 agreements giving effect to the restructuring, including the Investment Agreement and the Concession Agreement providing for Kumtor's right to explore and develop the main Kumtor deposit within the Kumtor concession area; and the Government's decree approving the 1993 Concession Agreement and the 1993 Concession Agreement itself.