West Virginia Concession Agreement
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How to fill out Concession Agreement?
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FAQ
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.
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.
Disadvantages of a concession agreementIt requires closer regulatory oversight by the government.It creates contingent liabilities to the government, especially if the term of the project is long.It can have underlying fiscal costs to the government.More items...?
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.
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.
Some of the essential clauses in a concession agreement are as follows:Definition clause.Scope of the project.Grant of concession.Concession period.Conditions precedent.Damages for delay by the authority.General obligation of the concession holder.General obligation of the authority.More items...?11 July 2021
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.
Making and Managing ConcessionsDuring Bargaining you must make concessions.You have to give to get.You must manage your concessions.Give value, but don't rush.Send the right message.Create a sense of satisfaction.Link concessions and keep trades provisional.Give value but don't rush.More items...
