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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.
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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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Their main argument for this was based on the expiry of the WTO waiver for the Lome non-reciprocal preferences, which were incompatible with its trade rules.
According to the EU, granting non-reciprocal preferential trade concessions to fellow European countries that are richer than most African countries does not violate WTO rules, but doing so for Africa does.
The non-reciprocal licenses allow developers to make changes and keep those changes under their own licenses.
* The status quo: this would see the present contractual system of non-reciprocal preferences maintained, if moderately reformed.
Shippers have plenty of options to non-reciprocal states, however.
Only in non-reciprocal or partially reciprocal non-resident income tax systems do commuters actually pay more in taxes than they normally would.
In Reeves and Pierson, the Commissioner argued that all transactions sharing a single acquisitive purpose from the viewpoint of the acquiring corporation should be aggregated for purposes of determining the "acquisition." This argument presumes that only unilateral or non-reciprocal (i.e., one-party) intent is necessary to combine transactions into one acquisition.
Ambassador said that Poland supported the inclusion of Pakistan in the GSP Plus by the European Union (EU) to grant non-reciprocal preferential treatment to Pakistan's exports.
At a White House event on the Reciprocal Trade Act on Thursday, Trump flashed out a green colour board that had examples of non-reciprocal tariffs from various countries.

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