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 ?
Outside Vietnam, the health effects of Agent Orange and dioxin attracted much concerns and controversies throughout the 1970s and the 80s (Allen, 2004; Schuck, 1986; Scott, 2004).
In regards to cases like this, our government's one concession to responsibility for the ravages of Agent Orange is environmental remediation.
Thousands of US service members exposed to Agent Orange also suffered from serious illnesses.
Urologic Cancers--Veterans and Agent Orange Update 2010
Over a decade of war, the United States sprayed about 20 million gallons of Agent Orange and other herbicides.
The Danang Airbase is one of three "dioxin hotspots" singled out by multiple recent studies where concentrations of extremely toxic contaminants from Agent Orange are nearly 400 times the globally accepted maximum standard.
Because of concerns among veterans over Agent Orange exposure, the Department of Veterans Affairs (VA) has conducted a series of studies of specific cancers among Vietnam veterans.
Agent Orange has created "a burden for the economy and for society," Tan says.
It follow the lasting consequences of Agent Orange in that country, continuing the story begun in WAITING FOR AN ARMY TO DIE and presenting the author's journey to Vietnam visiting the communities and hospitals where Agent Orange victims reside.
Waiting for an army to die; the tragedy of Agent Orange, 2d ed.
Hoan was born with no legs and only one hand, a second-generation victim of the herbicide Agent Orange, which the Americans dropped on rural areas of Vietnam during the war so that the communist Viet Cong soldiers in the jungle had nowhere to hide.
"I am a Vietnam veteran who was exposed to Agent Orange during service there.