What Is a Concession Agreement?

A franchise agreement refers to a legal document that the host country grants to the project sponsor to the right to explore and develop specific projects and the right to engage in business. It was negotiated between the project sponsor and representatives of the host government. ^[1]

Concession agreement

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A franchise agreement refers to a legal document that the host country grants to the project sponsors the right to explore and develop specific projects and the right to engage in business. It was negotiated between the project sponsor and representatives of the host government. ^[1]

The characteristics of the concession agreement: 1. The principal party is the government; the other party is a foreign private investor; 2. The exercise of certain rights exclusive to the state based on the permission of the host government; 3. The basis: Approval by the administrative agency authorized by the legislature of the host country Or legislative deliberations. Nature: It is neither a contract in domestic law nor a treaty between the subjects of international law, but a "quasi-international agreement".