Concession Agreement Bedeutung

Also known as concession agreements, concession agreements include different sectors and are available in many sizes. These include hundreds of millions of dollars worth of mining concessions, as well as small food and beverage concessions at a local cinema. Regardless of the type of concession, the dealer normally has to pay the concession fee to the party that grants it the concession fees. These fees and the rules that allow them to change are usually described in detail in the contract. For example, there is a concession contract between the French and British governments and two private companies via the Channel Tunnel. British Channel Tunnel Group Limited and France-Manche S.A. operate the Channel Tunnel, often referred to as «Chunnel» as part of the agreement. The tunnel connects the two countries and allows the transport of people and goods between them. It is 50 km long and is 38 km under the English Channel. The Channel Tunnel is therefore the longest underwater tunnel in the world and an important part of the public infrastructure. The more attractive and profitable a concession is, the more likely it is that a government will offer tax breaks and other incentives. Concession agreements are sometimes used to exploit other nations.

For example, foreign countries and companies forced China to make various concessions in the 19th and early 20th centuries. These concessions have given foreign companies the right to develop and operate railways and ports within China. In addition, citizens of other countries have often appreciated extraterritoriality as part of their concessions. Extraterritoriality meant that foreign laws and tribunals settled disputes between Chinese and foreigners in concessions. Of course, the decisions of these courts have tended to oppose Chinese businesses and consumers. A common area of concession agreements between governments and private companies provides for the right to use certain parts of public infrastructure, such as railways.B. Rights may be granted to individual companies, resulting in exclusive rights, or several organizations. As part of the agreement, the government may have construction and maintenance rules as well as current operating standards.