Created by: [Sender.FirstName][Sender.LastName] [Sender.Company]
This concession agreement, between [Sender.FirstName][Sender.LastName] (Property Owner) and [Client.FirstName][Client.LastName] (Vendor) entered into on [Agreement.Date] is with regard to the property located at [Property.Location] and will be subject to the following terms and conditions:
Insurance
The Vendor must purchase and maintain adequate insurance during the entirety of this concession agreement. Proof of insurance must be provided listing the Property Owner as “additional insured”.
A business concession is an agreement that is signed between a business (private sector) and the government (public sector) with a set of terms. A concession is varying in nature, it can be specific to business jurisdiction, exceptional permissions and other perks. It often acts as a comparative advantage for the business.
There are 2 different types of concession agreements. The first one is called Works Agreement. Here, the private entity builds an asset in exchange of part or complete access to using it as a means of payement. The next is known as a Service Agreement where the private entity provides a service to the public and then maintains, operates and invests in it, in exchange for part or complete payment.
These are two main types of concession agreements: works and services. Both these agreements are used in different contexts. For example, with a works agreement, if a contractor builds a bridge, they can levy toll on that budge. On the other hand, with a services agreement, a contractor provides a service (such as electricity) and gets paid for it.
The introduction to this template lists the Vendor and Property Owner as well as the facility where the concession rental will take place. The specific area to be used by the Vendor will be defined further down in the agreement.
Terms and Conditions
Both parties are in agreement to the following
The Vendor will not sublease or transfer this agreement to anyone without prior written approval from the Property Owner.
In the instance of default or breach of any terms of this concession agreement, the Property Owner shall retain the right to early termination. In the event of cancellation due to breach or default, Vendor shall remain liable for unpaid rent or fees, and shall be subject to additional late fees and cancellation fees.
The Vendor agrees to hold the Property Owner harmless for any and all losses or claims that may arise from the Vendor’s operations on the property.
The lease shall be confined to the permitted areas listed in this concession agreement unless written permission has been granted by the Property Owner.
The Vendor shall have the exclusive right to serve hot and cold beverages as well as any other sundry items from inside the concession stand.
The Property Owner shall hold the right to approve any and all advertising materials being used on the premises.
All operation hours shall be approved by the Property Owner.
The Vendor will be responsible for all upkeep during the term of this concession agreement.
Furthermore, the Property Owner reserves the right to inspect the property at any time.
The Vendor agrees to abide by all laws and regulations of the state of [PropertyOwner.State]
The Vendor agrees to keep all permits and licenses required by the Department of Health during the term of this concession agreement.
The Property Owner shall provide all electric and water services necessary for the operation of the concession stand.
Any additions or improvements done to the property during this lease term must be previously approved by the Property Owner.
The insurance section of this template states that the Property Owner must be listed as “additional insured”. This ensures that the Vendor’s insurance will cover any damages to the Owner’s facility caused by the Vendor’s activities.
Pricing
Lease cost for the concession area is provided in the table below.Pricing will be based on the lease area requested.Pricing below is not inclusive of any taxes, fee, and clean up costs.
Name
Price
Qty
Subtotal
Label
Amount
Subtotal
$0.00
Discount
$0.00
Tax
$0.00
Total
$0.00
All payments should be made payable to the following:
The Vendor shall be granted use of the following area for concession purposes:
Termination
Upon termination of this concession agreement the Vendor will remove all belongings from the premises and return the property to its original state.
The Owner reserves the right to terminate this concession agreement without prior approval or warning.
The Vendor may request termination with the submission of written notice no sooner than 30 days prior to requested termination date.
Acceptance
By signing below, the Vendor and Property Owner hereby enter into this concession agreement with one another, and communicate their intent to uphold the entirety of this agreement at all times.
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This free concession agreement template is designed for property owners who want to temporarily lease their property rights to another business entity. It covers all relevant points relating to such an agreement, including terms of use, insurance, pricing, and termination details. Use it to create fully customized and legally binding contracts for your vendors.
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