(1) Concessions are contracts for pecuniary interest by means of which one or more concession grantors entrust one or more undertakings
1. with the execution of works ('works concessions'), the consideration for which consists either solely in the right to exploit the work or in that right together with payment; or
2. with the provision and management of services other than the execution of works referred to in no 1 ('services concessions'), the consideration for which consists either solely in the right to exploit the services or in that right together with payment.
(2) In contrast to the award of public contracts, in the process of the award of a works or services concession, the operating risk for the use of the work or for the exploitation of the services passes to the concessionaire. This is the case when
1. it is not guaranteed under normal operating conditions that the investments made or the costs incurred for operating the work or providing the services can be recouped; and
2. the concessionaire is in fact exposed to the vagaries of the market, such that any potential estimated losses incurred by the concessionaire are not negligible.
The operating risk may consist in either a demand risk or a supply risk.