A concession can be a contract that grants either of the following:
Moreover a concession can be granted by one of the following entities:
2. Local authority
5. Legal authority
The entity who gives a concession generally charges a minimal fee for the same which may also be taken as a fixed percentage of revenue earned by the entity that gets the concession, especially in private sector.
For example, there can be a short term concession granted to an entity in the form of a promotional space. Say you’re the marketing manager of “!ndia Mobile Network” and you want to enter the telecom industry by giving sim cards away for free. A departmental store or retailer may allow you to put up a stall in front of his shop, given that you give him 3 !ndia sims as the fee.