CONCESSION AGREEMENT
Negotiated contract between a firm and a government, which gives the company the right to operate a given business within the government’s jurisdiction, subject to some conditions. This may also pertain to an agreement the the facility owner and concession owner or concessionaire granting the latter sole rights to operate a particular business in the facility, subject to some conditions. Regardless of the type of concession, the concessionaire normally pays the party granting the right ongoing charges, either a fixed amount or a portion of revenues.
POPULAR TERMS
Affirmative Covenant
A kind of contract or promise that requires a party to conduct some action. For example, a bond covenant which provides that the issuer must delive ...
Pure Risk
A risk where loss is the only potential outcome; there is no positive result. A pure risk is related to events that are out of control of the risk- ...
Efficiency
Performance level describing a process which uses the lowest amount of inputs to come up with the greatest amount of inputs. It is relative to usin ...
Tax Free
Goods and/or financial products that are not taxable. Having the tax free status allows an entity to save money and encourages additional spending ...
Reprice
A situation that is most often allowed for company executives or high-level employees. It permits them to trade in their options that out of the mo ...
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