agent

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Agent

A party appointed to act on behalf of a principal entity or person. In context of project financing, refers to the bank in charge of administering the project financing.

Agent

A person who acts on behalf of an organization or another person. Agents have a fiduciary responsibility to act in the best interests of the principal. Common examples of agents include brokers and attorneys. See also: Agency theory, Agency problem, Agency costs.

agent

An individual or organization that acts on behalf of and is subject to the control of another party. For example, in executing an order to buy or sell a security, a broker is acting as a customer's agent.

Agent.

An agent is a person who acts on behalf of another person or institution in a transaction. For example, when you direct your stockbroker to buy or sell shares in your account, he or she is acting as your agent in the trade.

Agents work for either a set fee or a commission based on the size of the transaction and the type of product, or sometimes a combination of fee and commission.

Depending on the work a particular agent does, he or she may need to be certified, licensed, or registered by industry bodies or government regulators. For instance, insurance agents must be licensed in the state where they do business, and stockbrokers must pass licensing exams and be registered with NASD.

In a real estate transaction, a real estate agent represents the seller. That person may also be called a real estate broker or a Realtor if he or she is a member of the National Association of Realtors. A buyer may be represented by a buyer's agent.

agent

a person or company employed by another person or company (called the PRINCIPAL) for the purpose of arranging CONTRACTS between the principal and third parties. An agent generally has authority to act within broad limits in conducting business on behalf of his or her principal and has a basic duty to carry out the tasks involved with due skill and diligence.

An agent or broker acts as an intermediary in bringing together buyers and sellers of a good or service, receiving a flat or sliding scale commission or fee related to the nature and comprehensiveness of the work undertaken and/or value of the transaction involved. Agents and agencies are encountered in one way or another in most economic activities and play an important role in the smooth functioning of the market mechanism. A stockbroker, for example, acts on behalf of clients wishing to buy and sell financial securities; an estate agent acts as an intermediary between buyers and sellers of houses, offices, etc.; while an insurance broker negotiates insurance cover on behalf of clients with an insurance company. A recruitment agency performs the services of advertising for, interviewing and selecting employees on behalf of a company. In addition to the role of agents as market intermediaries, organizational theorists have paid particular attention to the internal relationship between the employees (‘agents’) and owners (‘principals’) of a company See PRINCIPAL-AGENT THEORY.

agent

a person or company employed by another person or company (called the principal) for the purpose of arranging CONTRACTS between the principal and third parties. An agent thus acts as an intermediary in bringing together buyers and sellers of a good or service, receiving a flat or sliding-scale commission, brokerage or fee related to the nature and comprehensiveness of the work undertaken and/or value of the transaction involved. Agents and agencies are encountered in one way or another in most economic activities and play an important role in the smooth functioning of the market mechanism. See PRINCIPAL-AGENT THEORY for discussion of ownership and control issues as they affect the running of companies. See ESTATE AGENT, INSURANCE BROKER, STOCKBROKER, DIVORCE OF OWNERSHIP FROM CONTROL.

agent

One who acts on behalf of a principal in an agency relationship. See agency for an extended discussion.

References in periodicals archive ?
Washington has already embraced the foundations for a potential Agent Orange solution.
The United States continues to maintain that more scientific study is needed to understand the link between Agent Orange and various physical disabilities suffered by the Vietnamese who live in areas where it was used.
LIVE 'N' LOUD: Skate punk stars Agent Orange heading to the Parish
military forces sprayed Agent Orange and other defoliants over parts of South Vietnam and Cambodia beginning in 1962, she said.
Air Force Study Finds Strong Link Between Exposure to Agent Orange and Diabetes" (CBS Evening News)
In 2013, the Association for Victims of Agent Orange in Ho Chi Minh City, Vietnam, filed its fourth lawsuit against the American chemical companies that produced Agent Orange.
In 2013, 22 steel barrels were discovered under a municipal football pitch in Okinawa with claims that traces of Agent Orange were found in some of the chemicals inside.
Swansea-born Jon Mitchell, pictured, has made allegations on Japanese TV and in publications including the Japan Times that defoliants including Agent Orange were buried in Okinawa following the conflict and that they continue to pose a massive threat to health.
The findings suggest that history of exposure to Agent Orange should be incorporated into prostate screening decisions for veterans.
Agent Orange directors Gulliver and Luke Hill said a pre-Christmas completion was essential.
Hundreds of planes took off every day from the base, including many that sprayed the toxic defoliant Agent Orange over nearby jungles to destroy the vegetation that provided cover to Vietcong fighters and North Vietnamese troops.
One of the most commonly used defoliants was an herbicide-hormone mixture known as Agent Orange.