CONCESSION

Definition of CONCESSION

CONCESSION Noun

Concession is a noun that refers to the act of yielding or granting something in response to demands or as part of an agreement. It can also denote a specific privilege, right, or benefit granted as part of a negotiation or agreement.

Act of Yielding: As a noun, concession refers to the act of yielding or making an allowance in response to demands or negotiations. For example, “The company made a concession on pricing to secure the contract,” indicates that the company agreed to reduce prices as part of the negotiation process.

Privilege or Right Granted: Concession can also describe a specific privilege, right, or benefit granted to someone, often as part of a broader agreement. For instance, “The government awarded a land concession to the developer for the construction of a new shopping center,” highlights the granting of a specific right to use land.

Compromise in Negotiations: In another context, concession refers to a compromise or adjustment made during negotiations to reach an agreement. For example, “Both parties made concessions to finalize the peace treaty,” shows how adjustments were made to achieve a mutual agreement.

Context in Business and Legal Agreements: Concession is significant in business and legal contexts, where it often involves negotiating terms and conditions. For instance, “Concessions in business contracts can include changes in delivery schedules or payment terms,” underscores its role in facilitating agreements.

Importance in Diplomacy and Conflict Resolution: Understanding concession is crucial in diplomacy and conflict resolution, where compromises and agreements are essential. For example, “Concessions made during peace negotiations can help in resolving conflicts and establishing agreements,” highlights its importance in achieving diplomatic resolutions.

Impact on Negotiations and Relationships: Recognizing concession helps in understanding its role in negotiations and maintaining relationships. For example, “Making strategic concessions can strengthen relationships and lead to more favorable outcomes in negotiations,” illustrates its impact on achieving successful agreements.

Concession is a noun that refers to the act of yielding or granting something in response to demands or as part of an agreement. It can denote a specific privilege, right, or benefit granted as part of negotiations or agreements. Understanding concession highlights its significance in business, legal agreements, diplomacy, and negotiations, emphasizing its role in facilitating agreements and maintaining relationships.

Examples of CONCESSION in a sentence

• The company made a concession on the price to close the deal.
• His concession in the argument showed that he was willing to compromise.
• The concession stand at the event sold snacks and drinks.
• She made a concession to her parents’ wishes by agreeing to visit more often.
• The treaty included a concession to grant additional rights to the opposing party.
• The concession in the contract allowed for a flexible delivery schedule.
• The politician’s concession speech acknowledged the outcome of the election.
• The concession for the new building was granted by the city council.

Origin of CONCESSION

Concession traces its origins to the Latin word concessio, meaning “a granting” or “a yielding,” derived from concedere (to grant, to yield), which combines con- (together) and cedere (to go, to yield). The term concession evolved from the concept of granting or yielding a particular right or privilege.

• Latin: Concessio (granting, yielding), from concedere (to grant, to yield), combining con- (together) and cedere (to go, to yield).
• Latin: Concedere referred to the act of granting or yielding, with cedere indicating yielding or giving way.
• Old French: The term evolved into concession, retaining the meaning of granting or yielding, particularly in contexts like agreements or rights.
• Middle English: Concession emerged, reflecting the concept of granting or yielding rights or privileges.

In contemporary English, concession refers to an act of granting or yielding, often in the context of negotiations, agreements, or compromises. It can denote the act of conceding a point in an argument or granting a right or privilege, such as in business or legal contexts. The term maintains its core meaning of granting or yielding, reflecting its historical evolution from Latin roots to describe various forms of compromise or agreement.