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 classic literature ?
Man therefore is the highest subject (unless on very extraordinary occasions indeed) which presents itself to the pen of our historian, or of our poet; and, in relating his actions, great care is to be taken that we do not exceed the capacity of the agent we describe.
whereas both these being related of their proper agent, constitute the truly marvellous.
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.
It was in her handwriting that most of the old gentleman's former acquaintances were informed that he had become an agent for the Black Diamond and Anti-Cinder Coal Company and could supply his friends and the public with the best coals at --s.
The agent explained that the houses were built that way, as the purchasers generally preferred to finish the basements to suit their own taste.
Still, they were peasant people, and they hung on to their money by instinct; it was quite in vain that the agent hinted at promptness-- they would see, they would see, they told him, they could not decide until they had had more time.
Two days elapsed, and brought no news from Moody's agent.
The Agent was silent and thoughtful for a moment; then he drew the other apart into an unfrequented place and whispered in his ear:
But as I was saying, no one to-day is a free agent.
Punctual to the time at which he was expected, the discreet Duncan reappeared with a note from the musical agent.
You haven't any lawyer or business agent now, so you'll have to depend on yourself.
You give my agent a written order to the man who has got your sealed letter to resign his possession of it.