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Balance of Concessions

An agreement in which one country reduces tariffs on its imports from another country in exchange for an equivalent, or at least similar, reduction from the second country. The balance of concessions is intended to stimulate international commerce between the two countries. It is also called reciprocity or simply a concession.


A mutual agreement to accept another's judgment on a matter.Some states offer reciprocity of real estate licensing,so that an agent or broker licensed in one state may become licensed in another without meeting the minimum education,testing,or apprenticeship requirements.

References in periodicals archive ?
The most significant aspect of our discovery is the observation that BSIT is a non-reciprocal phenomenon--the transparency is only generated one way.
Third, and to be honest about it, the WTO does allow for non-reciprocal preferential trade arrangements if the motivation for the EU's action is to assist Africa.
Non-reciprocal countermeasures are a common feature of States'
As the package is unilateral and non-reciprocal the mechanism of formal negotiations was not used by EU in finalizing the package.
Chidambaram reiterated India's commitment to discharge its responsibilities within SAARC in a non-reciprocal manner and said New Delhi will continue to offer assistance to member countries in the areas of criminal investigation, narcotic drugs and psychotropic substances, cyber crime, economic offences and bank fraud cases.
They examine such facets of the issue as quantifying the value of US tariff preferences for developing countries, Japan's generalized system of preferences, multilateral solutions to the erosion of non-reciprocal preferences in non-agricultural market access, the Doha development agenda and preference erosion, and trade preferences for apparel and the role of rules of origin as exemplified in Africa.
Sometimes nonprofits whack others with a non-reciprocal fee of as much as $20/m, if another organization rents a list but does not make its own list available.
The stripline junction circulator is a unique three-port non-reciprocal microwave junction used to connect a single antenna to both a transmitter and a receiver.
The GSP is a trade arrangement through which the EU provides non-reciprocal preferential access to the EU market for developing countries and territories.
Rodolphe Alexis has joined Bank of America as a Principal and Head of European Non-Reciprocal Bank Global Foreign Exchange (GFX) Sales and Joint Head of Corporate GFX Sales, reporting to Patrick Baune, Head of European GFX Sales.
The last section contains our suggestions for a possible approach focusing on some of the key parameters for a fair regulatory model for mobile termination, which accounts for cost orientation, but also looks at the various market positions of operators that may influence whether reciprocal or non-reciprocal termination rates are feasible.
Basically, there are two types of licenses, reciprocal and non-reciprocal," he explains.

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