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 ?
Phase 3 Telecom had written to the minister, complaining about the development and asking his opinion about the summary termination of the concession agreement contract facilitated by Federal Government had on March 20, 2006, that mandated the concessionaire to design, build, finance and operate (DBFO) fibre optic network infrastructure in the country.
Contract notice: Concession agreement for the operation of a retail outlet and a food service outlet at beaumont hospital
"They are required to pattern the concession agreement after the one signed with the North Luzon Airport Consortium for the operations and maintenance of the Clark International Airport," Transportation Undersecretary for planning Ruben Reinoso said.
This, as the MWSS Regulatory Office warned water companies that they may be slapped with penalties if they implement service disruption outside their announced schedule as such act is a violation of their concession agreement.
To recall, MWSS-RO has issued a 'Notice of Service Obligation Failure' to Maynilad for failing to meet its service obligation, as indicated under the Concession Agreement. The company was given five days to explain why it shouldn't be penalized.
The decision was made following a meeting with the President, Nana Addo Dankwa Akufo-Addo, who assured them that their concerns on the GPHA and Meridian Port Service (MPS) expansion concession agreement would be addressed.
KUFPEC CEO Sheikh Nawaf Al-Sabah signed an exploration license and petroleum concession agreement in Pakistan
Summary: KUFPEC signs petroleum concession agreement in Pakistan.
President George Manneh Weah has submitted a bill to the Liberian Senate to amend the Firestone Concession Law.The bill is titled 'Amendment to the Amended and Restated Concession Agreement between the Government of Liberia and the Firestone Liberia Incorporated.'
The concession agreement defines the installed power of 49.5MW for the Grebak Wind Farm with a planned annual production of 130GWh.
1351/2019 approving the amendment of the concession agreement with CAAP's fully-owned subsidiary Consorcio Aeropuertos Internacionales S.A., or CAISA, which operates and maintains the Punta del Este Airport in the city of Maldonado, by Punta del Este, Uruguay, and authorized the Ministry of Defense to grant the modification of the aforementioned contract.
Ltd (China Merchants), Djibouti breached DCT's rights under a 2006 concession agreement to develop a container terminal at Doraleh, in Djibouti, and its exclusivity over all container handling facilities in the territory.