Concession Agreements

A concession agreement is a legal contract where a government or authority allows a private company to operate a specific service or project, typically in public sectors like transportation, utilities, or tourism. In return, the company often invests in the project and pays fees or a percentage of revenue to the government. This arrangement enables the government to leverage private expertise and funding while retaining oversight. Essentially, it’s a way for public entities to partner with private companies to deliver services more effectively, benefiting both parties and the public.