Concession

Permission to use or release a product that does not conform to specified requirements.

Similar financial terms

Concession agreement
An understanding between a company and the host government that specifies the rules under which the company can operate locally.

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Insurance

A contract that provides compensation for specific losses in exchange for a periodic payment. An individual contract is known as an insurance policy, and the periodic payment is known as an insurance premium. An insurance contract can be looked upon as an option.


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