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 ?
MUSCAT: Clearing agents at the Sultan Qaboos Port want the authorities to regulate the operations of shipping companies, especially on issues ranging from what they say "unpredictable handling charges" to "cargo clearing delays".
It is worth mentioning the officer had played a pivotal role in detection of a case of silicon- electrical steel import by unscrupulous importers and clearing agent M/s Ikram International Services through fraudulent means and the officer saved billion of rupees of national exchequer.
According to a letter issued here on Sunday, Collector Muhammad Zahid said that some importers and clearing agents threatened officers and sometimes tried to impilicate them in criminal cases to demoralise officers.
Complaint was filed by the clearing agent as an aggrieved person but not as agent of Samiullah.
The ship came under investigation, after security agencies raised an alarm when discrepancies were found in the cargo lists provided by the ship's captain and the clearing agent.
the operator of the Hong Kong dollar payment system, as its clearing agent.
Others were United Bank Limited business system support analyst Babou Ali Khan, American Mission Hospital accountant Jeseentha Cheriyan, Universal Trading office administrative assistance Abdul Aziz Mahmood and Al Amin Shades government clearing agent Ali Hassan.
Tenders are invited for Appointment Of Clearing Agent For Clearance Of Imported Goods From Custom Authority, New Delhi
PCS, a magazine subscription clearing agent based in Margate, Florida, was informed on January 12, 2005 that magazine publisher Gruner + Jahr USA filed a lawsuit against them.
The warrant certificates will only be registered directly in the name of the beneficial owner, not a Broker/Dealer, Clearing Agent, Depository, etc.
Limited Tenders are invited for Inviting Quotations For Clearing Agent
Tenders are invited for Appoint Of Custom/Cargo Clearing Agent