Concession
Definition of "Concession"
(1) Right to engage in and earn from a particular activity in return for services or for a particular use. (2) Reduced price used as an incentive. (3) Permission or right, granted by a governmental body, to use property for a particular type of business in a specific area or place. (4) Compensation for the underwriters work in a new security issue of a real estate company.
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