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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.
A concession stand, or refreshment stand (American English, Canadian English), snack kiosk or snack bar (British English, Irish English) is a place where patrons can purchase snacks or food at a cinema, amusement park, zoo, aquarium, circus, fair, stadium, beach, swimming pool, concert, sporting event, or other entertainment venue. Some events ...
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.
The owner of the goods pays the third-party a portion of the sale for facilitating the sale. Consignors maintain the rights to their property until the item is sold or abandoned. Many consignment shops and online consignment platforms have a set time limit (usually 60–90 days) at which an item's availability for sale expires.
Often, companies will offer a surface rights owner a surface use agreement, which can provide financial compensation to the surface owner, or more commonly, offer some concessions on how the minerals are accessed. For example, some surface use agreements require the company to access the property from specific roads or points on the property.
Under a concession contract or in the case of an asset sale, tariff regulation through a regulatory agency or the government is a key regulatory function. Water concessions are frequently renegotiated, often resulting in better terms for the private company.
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