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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 ?
The reciprocal relationship held between parental monitoring and sexual risk behavior in the male youth model: Higher levels of sexual risk behavior at Times 1, 2 and 3 predicted modestly yet significantly lower levels of parental monitoring at Times 2, 3 and 4, respectively, even when controlling for peer risk involvement (-0.05 to -0.06).
A reciprocal relationship is shown between grade inflation and faculty evaluations as previous research has indicated.
Efforts to reduce discipline problems must recognize that a reciprocal relationship exists between cultural thought and the expression of certain behaviors.
But it is possible to imagine a reciprocal relationship: that Velazquez returning from the dead would have understood Manet, much as one might imagine that Giotto returning from the dead would have known what Raphael was up to.
Through exploring these factors, a link can be developed regarding the reciprocal relationship between person and environment.
From this study, a more rounded picture of Tura's oeuvre emerges, integrating as it does the reciprocal relationship between his varied activities as designer and painter.
Catholics want a reciprocal relationship with Christ, but they don't hear about it in church.
So that it is a true reciprocal relationship, no one country should get a better benefit or a better part of the bargain," he added.
When Pi rules out killing the tiger in favor of taming him, a reciprocal relationship evolves.
There is a reciprocal relationship between their life with God and the kind of environment they create."
Teachers should aim for a more reciprocal relationship between students and older adults.
"Seeing these plants instead as willing partners in an intimate and reciprocal relationship with us means looking at ourselves a little differently."