What Is a Concession Agreement? A concession agreement is a contract that gives a company the right to operate a specific business within a government’s jurisdiction or on another firm’s property, subject to particular terms. Concession agreements often involve contracts between the nongovernmental owner of a facility and a concession owner, or concessionaire. The agreement
What Is Concurrent Causation? Concurrent causation is a method used in insurance claims for handling losses or damages that occur from more than one cause. The roots of concurrent causation stem from court rulings and opinions, which form a body of legal precedent, which becomes useful when parties in a dispute require the decision of
What Is Concurrent Insurance? Concurrent insurance is when there are two or more insurance policies that provide coverage for the same risks over the same period of time. Concurrent insurance is most often used when an insured person or business purchases policies in addition to a primary policy, with the additional policies providing excess coverage.
What Are Condensed Financials? Condensed financial statements are a summary form of a company’s income statement, balance sheet, and cash flow statement, usually combined into a single document. These shortened statements are created to provide a quick overview of the company’s financial status with limited detail, and often for internal use only. Items that would
What Is Conditional Probability? Conditional probability is defined as the likelihood of an event or outcome occurring, based on the occurrence of a previous event or outcome. Conditional probability is calculated by multiplying the probability of the preceding event by the updated probability of the succeeding, or conditional, event. Conditional probability can be contrasted with
What Is Conditional Value at Risk (CVaR)? Conditional Value at Risk (CVaR), also known as the expected shortfall, is a risk assessment measure that quantifies the amount of tail risk an investment portfolio has. CVaR is derived by taking a weighted average of the “extreme” losses in the tail of the distribution of possible returns
What Is a Conditional Call Option? A conditional call option is a clause attached to some callable bonds stating that if the bond issuer calls the bonds away before they mature, they must provide the bondholder with a replacement, non-callable bond, of similar maturity and yield. Conditional call provisions are meant to protect investors if
What is a Conditional Listing Application (CLA)? A conditional listing application (CLA) is an interim step in the listing process for a company that seeks to be listed on the Toronto Stock Exchange (TSX). Key Takeaways A conditional listing application refers to a step a company must fulfill prior to listing on the Toronto Stock
What is a Conditionally Renewable Policy? A conditionally renewable insurance policy contains a provision that permits the insurer to not allow a policy to be renewed under certain conditions. A conditionally renewable provision is generally offered to insureds in high-risk occupations and is frequently found in group or association type coverage. Key Takeaways Conditionally renewable policies
What Is a Conditional Offer? A conditional offer is an agreement between two parties that an offer will be made if a specific condition is met. Conditional offers are used in real estate transactions whereby a buyer’s offer on a home is contingent on something getting done for the purchase to go through. In other
