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A concession agreement is a contract that gives a company the right to operate a specific business within a government's jurisdiction or on another firm's property, subject to particular terms.
The concession process typically involves the following steps: Development of technical, economic and financial analyses documents for the Data Room. Pre-qualification of bidders. Request for Proposal invitations to pre-qualified bidders.
Model Concession Agreement (MCA) forms the core of public private partnership (PPP) projects in India. The MCA spells out the policy and regulatory framework for implementation of a PPP project.
In a concession model, the brand hires and pays for the staff and operations for their section of the store. Advertisement. Extending beyond our traditional wholesale model allows us to increase selection, sharing the benefit and risk with our partners, Pete Nordstrom said on the investor call.
There are different types of concession contracts, including: ex-leasing, franchise, build- operate-transfer (BOT) etc. Private finance initiatives (PFIs) may also be considered similar to concessions.