👉 Concessions are agreements between two parties to exchange something of value for a benefit or advantage. In the context of business, concessions can be defined as:
1.
Freight Discounts
: For example, if a customer pays less than the usual rate for shipping goods, they may receive a discount on their order.
2.
Discounts on Products
: For instance, if a manufacturer offers a lower price on a product when purchased in bulk, it is considered a concession to its customers.
3
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What is the definition of Concessions? 🙋
