Alabama Concession Agreement
Description
How to fill out Concession Agreement?
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FAQ
Concession agreements often involve contracts between the nongovernmental owner of a facility and a concession owner, or concessionaire. The agreement grants the concessionaire exclusive rights to operate their business in the facility for a stated time and under specified conditions.
Highly complex to implement and administer. May have underlying fiscal costs to the government. Negotiation between parties and finally making a project deal may require long time. May require close regulatory oversight.
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.
Legal Definition of concession 1 : an act or instance of conceding or yielding. 2 : something conceded: as. a : acknowledgment, admission. b : something granted especially as an inducement (as to enter into an agreement)
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.
Concessions are often viewed as a substitute for privatisation when the latter is not feasible for political or legal reasons. An accepted definition of a concession is: a grant to a private firm of the right to operate a defined infrastructure service and to receive revenues deriving from it.
There are several kinds of concessions, represented by the three concession forms: Pre-requisite Waivers, General Concessions (different kinds, which are specified in the checklist on the form); and Timetable Clashes.
When you are negotiating and you give in to something that the other side wants, this is an example of a concession. If the government gives tax credits to special interest groups, the tax credits are an example of a concession.
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.
Advantages and Disadvantages of Granting a Concession A concession permits an operator to have greater freedom and flexibility to obtain maximum operating effectiveness (using its own management, financial, and technical abilities and knowledge) and guarantee the success of the project.