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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 ?
Following the restructure, the company retained the liability for providing concessionary fuel benefit to employees, ex-employees, and employee spouses of the company or a predecessor, RJB Mining UK Limited.
The concessionary travel scheme could cost not far short of half a billion pounds by the time we get to the 2020s.
Ministers don't seem to get that coaches are a vital link for pensioners and disabled people and that losing their concessionary travel could greatly reduce their quality of life.
The tentative concessionary agreement will be reviewed this week by the Mesaba Master Executive Council.
However, last night Savill rejected the figures, saying: "The figures presented today by the Tote to the BHB were very different from the figures provided to the Tote board on December 5 upon which the Tote board made the decision to turn down the BHB's concessionary charges.
BUS companies are demanding a showdown with travel bosses over a new concessionary fare scheme which could drive them to the wall.
The stake was for 100 pounds, plus clothing ``embroidered with a suitable concessionary message.
A Coventry City Council spokesman said: "The decision not to include non-blind disabled in the concessionary travel pass scheme was taken on funding grounds.
Kenny Parrick, Local 2741 president at the Sand Springs, OK location of Sheffield Steel stated, "The members of Local 2741 agreed to open their contract in 2002 and grant the company concessionary relief while the company was in bankruptcy.
Contract notice: 0080 Card production including smart cards, administration and consultancy support requirements primarily for the English National Concessionary Travel Scheme.
Meanwhile, concessionary fares reimbursement is to be cut, albeit by less than previously proposed.
The companies went into administration, leaving a question mark over the future of those workers and former miners' concessionary fuel allowance payments to which they were entitled under a deal first struck with unions in the 1980s.