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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.
Concession (politics), failure to challenge or cessation of challenging, as in "conceding an election" or "conceding a game" A step taken during negotiation whereby one party offers up something of value to them in order to work towards an agreement; Concessional loan, a loan with below-market terms
Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies. [1] The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. [2]: 10 In some cases ...
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."
The British government has been granted a golden share in the recently-sold Royal Mail in a bid to keep it in the UK.. Royal Mail’s sale to Czech billionaire Daniel Kretinsky’s EP Group was ...
The concession agreement may be signed by a national/regional government, a municipality, or a special purpose entity set up by the state to grant the concession. Examples of concession agreements include contracts for the following: A toll-road or tunnel for which the concession agreement giving a right to collect tolls/fares from the public ...
Gross Dealer Concession or GDC is the revenue to a brokerage firm when commissioned securities and insurance salespeople sell a product, whether it is an investment like stocks, bonds, or mutual funds, or insurance like life insurance or long term care insurance.
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise.