Concession
Term | Definition |
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Concession | Contract by which a public person (licensor) entrusts the financing and construction of a work to a private or public person (concessionaire), which is remunerated in whole or in part thanks to the right to exploit the work at its own risk and peril (execution of a public service) for a fixed period.
The work returns to the licensor at the end of the concession . |