agent


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Related to agent: Agent Orange, agent provocateur

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 classic literature ?
In the last place, the actions should be such as may not only be within the compass of human agency, and which human agents may probably be supposed to do; but they should be likely for the very actors and characters themselves to have performed; for what may be only wonderful and surprizing in one man, may become improbable, or indeed impossible, when related of another.
Sedley, who thought the Major had some roguish intentions of his own about the money, was strongly against this plan; and he went to the agents to protest personally against the employment of the money in question, when he learned, to his surprise, that there had been no such sum in their hands, that all the late Captain's assets did not amount to a hundred pounds, and that the five hundred pounds in question must be a separate sum, of which Major Dobbin knew the particulars.
The Major, in a word, was always thinking about Amelia and her little boy, and by orders to his agents kept the latter provided with picture-books, paint-boxes, desks, and all conceivable implements of amusement and instruction.
I will offer my canaries and my cockatoo to this vast Metropolis--my agent shall present them in my name to the Zoological Gardens of London.
It was not till five minutes past seven that the gate bell rang, and the agent made his appearance.
He took the agent (a foreign spy, in every line of his face, if ever there was one yet) into a corner of the room, whispered some directions to him, and then left us together.
The agent waited with me till his employer returned, equipped in travelling costume.
The agent had kept at the door the cab in which he had returned.
I went out to the door, the agent standing below me in the front garden.
The agent and I waited at the door a few moments looking after him.
These were called agents, and were personages of great weight and importance; the other partners took their stations at the interior posts, where they remained throughout the winter, to superintend the intercourse with the various tribes of Indians.
As to the principal partners, or agents, who resided in Montreal and Quebec, they formed a kind of commercial aristocracy, living in lordly and hospitable style.