Agency Agreement

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Agency Agreement

An agreement between persons and/or organizations whereby one, called the agent, acts on behalf of the other, called the principal. The agency agreement states the functions the agent will perform for the principal, under what circumstances, and for what compensation. Agents have a fiduciary responsibility to act in the best interests of the principal. Common examples of agents include brokers and attorneys. An agency agreement is also called an agency contract. See also: Agency theory, Agency problem, Agency costs.
References in periodicals archive ?
She said all STL AACs that will be allowed to resume operations will comply and sign new STL agency agreements in accordance with the terms and conditions of the new STL implementing and regulations.
It is a double-edged sword, on the one end allowing registered commercial agents to believe that they can kick back, relax and enjoy their supposedly indissoluble commercial agency rights, and on the other, causing principals to be bound to supposedly inextinguishable agency agreements.
Maputo, June 11 (ONA) The Sultanate and the Islamic Development Bank (IDB) signed today Istisna'a and Istisna'a Agency agreements according to which IDB will provide the Sultanate with $176 million worth loan (equivalent to almost RO 68 million) to finance 86% of the cost of water supply project from Wadi Dhaiqah to Muscat and Quriyat, which costs RO 79 million.
In view of the existence of this provision of Compensation on Termination, foreign principals often chose not to register their agency agreements with the Ministry of Com- merce and Industry in Oman (MOCI).
The company has hired experienced global business development professional Darren Cowley as sales director to support its significant growth in the region by establishing new distribution agency agreements.
International Resource News-February 21, 2014--Changshu Huaye Steel Strip signs international sales agency agreements for Middle East and South America
The trial revealed e-book prices rose after Apple signed with publishers so-called agency agreements, in which publishers rather than retailers set prices for each title.
QDO multiple agency agreements make much sense any more?
To address the Commission's concerns, the companies offered in particular to terminate ongoing agency agreements and to exclude MFN clauses in their agency agreements during the next five years.
This includes band partnership agreements, management contracts, recording contracts, publishing deals, distribution agreements, merchandising agreements, performance contracts, licensing agreements, agency agreements, producer agreements, promoters agreements and session musician agreements.
Increasingly, the termination of registered agency agreements is completed through settlement agreements negotiated between the parties.
Hay & Kilner receives cross-border instructions in relation to distribution, franchise and agency agreements and advises on restrictive practices in trading contracts.