Concession: A concession is a selling group 's compensation in a stock or bond underwriting agreement. The term “concession agreement” is used in two slightly different ways in the business world. Rental concessions should ideally be tied to good behavior on the part of the tenant, such as paying rent on time. In a concession agreement, land, property and other rights are negotiated between the two partied involved in the contract. ... a contract to operate a small business as a subsidiary of a larger company, or within the premises of some institution; the business itself and the space from which it operates. A concession agreement is a contract between two parties where one party grants the other the rights to operate a particular business in a facility under certain conditions. A concession agreement is a contract between two parties where one party grants the other the rights to operate a particular business under certain conditions. For example, if the executive was renegotiating a service contract with a customer, he might suggest that a requested concession is impossible given the current contract but possible under certain conditions. Common concessions include reduced rent for the first year, one month’s free rent, or the free use of property amenities for a period of time. The brand continues to improve upon its concessions by incorporating innovative, ground-breaking design elements to showcase its mastery of the concept, such as in its new three-level, 10,000 square foot ‘towhouse’ concession at Selfridge’s in London. Price concessions are typically used for a price decrease; however, a price concession can increase the price. Meaning of concession. Both refer to a type of negotiated contract which gives a company the right to do business, with some specific requirements. concession (Noun) In Ontario, a small road between tracts of farmland. What does concession mean? In a concession agreement, land, property and other rights are negotiated between the two partied involved in … A concession or concession agreement is a grant of rights, land or property by a government, local authority, corporation, individual or other legal entity.. Public services such as water supply may be operated as a concession. Concessions have been a central component of Louis Vuitton’s business model for decades. Concession Agreement Definition. It is completed before the final closing of the initial transaction. A concession is contingent when you state that you can make it only if the other party agrees to make a specified concession in return. Rental concessions are an enticement by landlords built into a lease to attract tenants. 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