concession contracts definition
concession contracts means contracts for pecuniary interest concluded in writing between one or more economic operators and the Institute as contracting authority and having as their object to entrust the execution of works or the provision and management of services to an economic operator. The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a works or services concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk or both. The concessionaire shall be deemed to assume a risk where, under normal operating conditions, there is no guarantee of recouping the investment made or the costs incurred in operating the works or the services at stake;
concession contracts means contracts having as their subject matter either the provision of services or the execution of works, whose reward mainly consists of a permission granted by the ECB to exploit these works or to provide services to others;
concession contracts means a Contract for pecuniary interest, under which the execution of Works or the provision and management of Services is entrusted to one or more Suppliers, the consideration for which is the right to exploit the Works / Services that are the subject of the Contract. Usually this will involve a transfer of operating risk to the Supplier and then receiving payment from third parties, not wholly from the Council.
More Definitions of concession contracts
concession contracts means the concession contracts and other agreements entered into between the Pledgor and Colombian regulatory authorities or granted to the Pledgor by such authorities, under which the Pledgor is entitled to explore and exploit the areas and Minerals, as more particularly described in Annex 4 to this Agreement, and all future concession agreements, licenses or permits and other agreements arising from the concession contracts and mining applications listed in Annex 4, entered into with the applicable Colombian regulatory authorities which grant to the Pledgor or any of the Pledgor Affiliates’, successors’ or assigns’, rights to explore and exploit the Minerals;