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Home > QFINANCE Dictionary > Definition of concession

Definition of

concession

  • 1. Finance

    price reduction for selected group a reduction in price for a specific group of people, not for everyone

  • 2. Business

    right to operate in another's premises the right of a retail outlet to operate within the premises of another establishment

  • 3. General Management

    agreement to ignore product's nonconformity to specification an agreement to ignore the failure of a product or service to conform to its specification, with a possible resultant deterioration in the quality of the product or service

  • 4. General Management

    compromise a compromise in opinion or action by a party to a dispute

concession - Related Articles
  • Infrastructure Finance: Islamic Alternative

    Viewpoints

    The Middle East is still the dominant region, with the main focus on the Gulf states, although there is increasing demand in other areas such as north Africa. But that balance may soon change. Beyond the Middle East and Asia, concession-holders and banks are starting to consider including Islamic financial tranches in their project finance structures, which would enable them to diversify their sources of funding by accessing Middle Eastern capital.
    By Natalie Schoon

  • Turks and Caicos Islands

    QFINANCE Country Profiles

    concessions to investors, who construct “approved” projects throughout the country, with more generous concessions for the lesser-developed islands. There is no income or company tax, which it is hoped will also help attract more offshore financial companies. There are indications that this is working, as more

  • Closing the Deal: Public–Private Partnerships (PPP) for Infrastructure

    Viewpoints

    The conventional PPP concession contract, which has evolved over the last 20 years in many developed markets, is increasingly being questioned. In its purest form, the contract provides for the private sector partner (PSP) to design, build, finance, and operate (DBFO) a project over typically 20–30 years, in exchange for the payment of a monthly fee which repays back the costs and provides a return to the PSP.
    By Chris Brown, Joanne Emerson Taqi

  • Accounting for Business Combinations in Accordance with International Financial Reporting Standards (IFRS) Requirements

    Best Practice

    component intangible assets cannot be determined reliably or if they have similar useful lives. In practice, this concession is often used to reduce the number of intangible assets that need to be valued following a business combination. A proposed amendment to IAS 38 suggests that the concession could
    By Shân Kennedy

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Definitions of ’concession’ and meaning of ’concession’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’concession’ and other financial terms with our online QFINANCE Financial Dictionary.

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