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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 ?
The E400 mln concessional credits will be devoted to the acquisition of Spanish goods and services to serve public projects carried out by Spanish firms in Morocco.
For the low-income countries eligible for highly concessional IDA resources, Lerrick charges that we fail to heed our own research findings on the importance of the country policy and institutional environment for aid effectiveness.
Increasing competition for commercial and concessional loans,
ADF is the Group's principal concessional window with subscriptions, at the end of 1996, of close to US$13 billion.
47) A smaller copayment also applied to concessional patients (those, other than pensioners, who qualify because of low income or unemployment).
The concessional nature of public debt drives Suriname's low external debt service ratio, which was only 8% in 2003, compared with a median of 18.
The French Development Agency or Agence Francaise de Development under the SUNREF programme has allotted $13million concessional funding to address energy efficiency measures in Uganda companies and organisations.
ISLAMABAD -- Pakistan Railways (PR) has announced concessional fare for the children passengers in respect of Air conditioned business class green line train running from Islamabad Margalla railway station to Karachi with effect from May, 15.
Ban outlined what he described as "six guideposts" which he said would help usher the international community to its desired goals, including domestic resource mobilization; tapping both public and private funds; developing new instruments and policies to increase non-concessional finance and more effectively blend concessional and non-concessional support to the public sector; mobilizing climate finance; boosting the quality of private finance; and innovating and transferring appropriate technologies as a non-financial means of implementation.
The credit portfolio includes bilateral concessional and non-concessional loans, multilateral concessional and non-concessional loans.
New Delhi, June 4 ( ANI ): The National Handicapped Finance and Development Corporation (NHFDC), Department of Disability Affairs, Ministry of Social Justice and Empowerment and Punjab National Bank (PNB) signed an MOU to facilitate concessional credit to Persons with Disabilities (PwDs) on all India basis here today.
The Saudi FundforDevelopment(SFD) signed three concessional loan agreements with the Egyptian Government.