Concessions and leases in international relations

In international relations, a concession is a "synallagmatic act by which a State transfers the exercise of rights or functions proper to itself to a foreign private test which, in turn, participates in the performance of public functions and thus gains a privileged position vis-a-vis other private law subjects within the jurisdiction of the State concerned." International concessions are not defined in international law and do not generally fall under it. Rather, they are governed by the municipal law of the conceding state. There may, however, be a law of succession for such concessions, whereby the concession is continued even when the conceding state ceases to exist.

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