Concession Agreement For Ports
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FAQ
In this context, Concession Agreement is an agreement through which the Government grants rights to a private sector entity to implement an infrastructure project. These agreements can be made either for the purpose of executing an infrastructure project or for providing services related to an infrastructure project.
For example, a concession agreement exists between the governments of France and the U.K. and two private companies regarding the Channel Tunnel. The British Channel Tunnel Group Limited and the French France-Manche S.A. operate the Channel Tunnel, often referred to as the "Chunnel" under this agreement.
Following the completion and payment of the Concession Agreement, an annual truck fee of $100 per truck will be collected within 30 days of the effective date of the Agreement, within 30 days of new registration of additional Drayage trucks into the Port Drayage Truck Registry, and on the annual registration ...
A port concession is a contract in which a government transfers operating rights to private enterprise, which then engages in an activity contingent on government approval and subject to the terms of the contract.
A service concession arrangement is an arrangement whereby a government or other public sector body contracts with a private operator to develop (or upgrade), operate and maintain the grantor's infrastructure assets such as roads, bridges, tunnels, airports, energy distribution networks, prisons or hospitals.