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Business English vocabulary · Negotiations

Concession

Meaning in business english, with examples

/kənˈseʃən/nounCommon term

In business english, concession means: Something that one side agrees to give up or allow during a negotiation in order to reach an agreement.

In Turkish: taviz, ödün

How it is used

You make, offer, ask for or win concessions. Negotiators often trade them: 'We can make a concession on price if you extend the contract.' Often used in the plural.

Example sentences

  1. We're not willing to make any more concessions on the delivery schedule.

  2. In return for a longer contract, the supplier made a small concession on price.

Common collocations

  • make a concession
  • concession on price
  • win concessions
  • mutual concessions
  • compromiseAn agreement in which each side gives up part of what it wanted so that both can accept the result. Also used as a verb.
  • negotiateTo discuss something formally with another side in order to reach an agreement both can accept, for example on price or contract terms.
  • counterofferA new offer made in reply to an offer you have received, usually with a different price or different conditions.
  • meet halfwayTo reach an agreement by each side accepting part of what the other wants, for example by splitting a price difference.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Negotiations

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