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 ?
Because, as we argued above, the value of argumentation in agent interactions lies essentially in the ability and willingness of participants to change their beliefs, desires and intentions, then argumentation-based systems must permit participants to undergo self-transformation (Forrester 1999); i.
For analysis of agent interactions (multiple agent key interaction model), predefined patterns are matched to find prevalent patterns of success.
In this case, governing infrastructures encapsulate agent interaction and coordination through coordination artifacts.
It is critical to understand how to prevent unnecessary and expensive agent interactions -- as well as multiple attempts, and multiple touch point interactions -- however today's agent performance data stops short of telling us why simple transactions end up with a live agent.
It enables organizations to deliver advanced customer and agent interactions by implementing cutting-edge mobile customer service and visual IVR solutions, agent desktops, and process optimization tools.
Among the topics are agent interactions governed by morality, the usefulness of agent-based simulation in testing collective decision-making models, an agent-based model of vague beliefs in games, a unified framework for traditional and agent-based social networking modeling, agents' risk relations in strategic tax reporting, and an agent-based simulation study of knowledge-based externalities and geographical clusters.
Jacada enables organizations to deliver advanced customer and agent interactions by implementing cutting-edge mobile customer service and visual IVR solutions, agent desktops, and process optimization tools.
The federal anti-kickback statute and state anti-inducement laws also are typically forgotten, as well as off-label marketing rules, the foreign corrupt practices act, rules regarding distributor relationships, government agent interactions, and data privacy.
When fully integrated into contact centers solutions, end users can create potent opportunities for providing actionable insights into agent interactions with customers that should improve agent performance, build stronger customer relationships and reduce operating expenses.
According to the vendor, Woolworths can use the quality monitoring function to capture and evaluate caller and agent interactions, as well as analyze uptake and decline factors associated with product offerings and services.
Real-rime capture of agent interactions allows users to identify skill gaps and deliver timely information that leads to insight and profitable action.