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TransCo assumed its new role as a result of the privatization of operations, maintenance, management, expansion, construction, and eminent domain upon their turnover to NGCP on January 15, 2009, which was to protect the national government's interest by ensuring NGCP's compliance with the terms and conditions of its concession agreement with ...
TransCo is also responsible for protecting the national government's interests by monitoring NGCP's compliance with the standards set by its concession agreement with NGCP, congressional franchise and other relevant laws, handle existing cases such as right-of-way (portion of a power line) and lands where the transmission structures stand ...
A concession or concession agreement is a grant of rights, land, property, or facility by a government, local authority, corporation, individual or other legal entity. [ 1 ] Public services such as water supply may be operated as a concession.
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Build–operate–transfer (BOT) or build–own–operate–transfer (BOOT) is a form of project delivery method, usually for large-scale infrastructure projects, wherein a private entity receives a concession from the public sector (or the private sector on rare occasions) to finance, design, construct, own, and operate a facility stated in the concession contract.
In international relations, a concession is a "synallagmatic act by which a State transfers the exercise of rights or functions proper to itself to a foreign private test which, in turn, participates in the performance of public functions and thus gains a privileged position vis-a-vis other private law subjects within the jurisdiction of the State concerned."
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