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The per-share or per-bond compensation of a selling group for participating in a corporate underwriting.

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.

Underwriting Fee

The compensation that an underwriter receives for placing a new issue with investors. It is calculated as a discount from the price of the new issue. For example, an issuer may sell the underwriter a bond at $990 per bond. The underwriter will then place the issue at $1,000, allowing it to make a $10 profit. This profit is the underwriting fee. It is also called a concession.


The dollar discount from a security's retail selling price received by members of an underwriting syndicate. For example, a syndicate member paying $995 for a bond to be sold at par (that is, at $1,000) is receiving a $5 concession. Also called selling concession.


(1) A discount, rebate, or abatement. Lease concessions may consist of free rent, below-market rent, a larger than normal build-out allowance, reserved parking, 5-year anniversary renovation allowance,or any number of other economic incentives to induce one to lease in a particular building. When investigating the purchase of an income-producing property, one should examine each and every lease in its entirety to determine the existence of any lease concessions that would adversely affect an economic analysis of the property,and one should also obtain estoppel certificates from tenants so that there are no agreements outside the terms of the written leases.(2) A business that operates within the confines of another business or on another property,but usually without a lease. Examples include a shoe-shine concession at the airport, the hot-dog concession at the ball park,or the designer fragrance concession in a department store.

References in periodicals archive ?
3 percent interest in the Cosmos concession and a 41.
This newly acquired concession is located north of the Montecristo concession group and the Sangre de Cristo concession that Paramount acquired earlier.
Early mapping is being carried out to define the extent and thickness of the portion of the concession where the Voltaian cover drapes the Ahafo Shear to optimise planning and facilitate subsequent interpretation of soil sampling geochemistry.
The Santa Cruz mining concession is located adjacent to and east of Paramount's El Carmen concession at San Miguel, SW Chihuahua and approximately 1000 meters north of the San Jose silver prospect (100 meters by 250 meters, averaging 225 g/t Ag), where the Company continues with an ongoing exploration program.
Previous regional work conducted by the Ghana Geological Survey outlined gold anomalies in silt samples from streams draining the concession area.
Lalo's 30,000 hectare Xilma IOCG concession borders to the south on Anglo/Cardero's Main Alisitos property.
The concession agreement provides EuroZinc with the exclusive right to undertake exploration in the area for a period of two years.
The Malhadinha concession is one of five exploration concessions the Company has in application with the Portuguese government.
geophysical program over the Las Tres Bocas target situated within its Loma el Mate and Cuance concessions, in the Dominican Republic.
The concession is located in an active exploration area, surrounded on all sides by concessions operated by major gold mining companies, including Newmont Mining Corporation and, Anglogold Ashanti Ltd.
The survey will be flown over the whole of the concession and will include radiometrics and magnetics.