Concession contract/ Agreement
21 Mar 2022

This is a contract between two parties where one party grants the other the rights to operate a particular business under certain conditions. In a concession agreement, land, property and other rights are negotiated between the two partied involved in the contract.

Concession agreements can occur between governments and companies, where such companies are allowed to carry out business operations within the state jurisdiction upon meeting certain criteria. Concession agreements can also occur between two business owners where one party gives the other rights to operate in a facility, given certain conditions.