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Appendix

Yui-yip Lau ,
Adolf K.Y. Ng  and
Jorge Acevedo
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Summary

Consortium

A consortium is a group made up of two or more individuals, companies or governments that work together toward achieving a chosen objective. Entities participating in a consortium will pool resources but otherwise are only responsible to the group in respect to the obligations that are set out in the consortium's agreement. Therefore, every entity that is under the consortium remains independent with regard to their normal business operations and has no say over another member's operations that are not related to the consortium. (Source: Investopedia.com)

Concession Agreement

A concession agreement is a negotiated contract between a company and a government that gives the company the right to operate a specific business within the government's jurisdiction, subject to certain conditions. Concession agreements may also refer to agreements between the owner of a facility and the concession owners or concessionaires that grant the latter exclusive rights to operate a specific business in the facility under specified conditions. (Source: Investopedia.com)

Hitherto

up to this time; until now: a fact hitherto unknown to here. (Source: Dictionary. com)

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Principles of Global Supply Chain Management
, pp. 187 - 188
Publisher: Anthem Press
Print publication year: 2019

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