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 ?
Series A preferred interests liquidation preference USD100.5 million with an interest rate of L + 85 have been exchanged for term debt agented by Wells Fargo; interest rate on term debt is L + 175 through July 31, 2016;
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Goodmans LLP consulted the buyers, while a syndicate of institutional investors agented by Regiment Capital Advisors LP and PNC Bank NA provided funding for the acquisition.Country: CanadaSector: Machinery/EngineeringTarget: CWS Industries (Mfg) CorpBuyer: KPS Capital Partners LP, International Equipment Solutions LLC (IES)Type: Corporate acquisitionFinancing: DebtStatus: ClosedBuyer advisor: Goodmans LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP
NEW YORK Longtime William Morris agents Gene Parseghian and Johnnie Planco have joined forces to form Parseghian Planco, a Gotham-based management/production company that bows with an eclectic roster of the talent they've agented for so many years.
13 November 2014 -- Philadelphia US-based LBC Credit Partners said it agented a senior secured term loan to support the recapitalisation of Marlin Equity Partners' Anexinet Corp portfolio company.
Last September, GE Capital agented a facility to support Southern Theatres acquisition of Movie Tavern, a premier cinema eatery circuit.
NEW YORK Michael Martineau, a longtime rock biz fixture who agented Jimi Hendrix and the Eagles, among others, has formed a Gotham-based production company with a go picture and a slate mandate: PG-13 pics without racism, extreme violence or explicit sex.
14 August 2014 -- US-based financial services firm GE Capital (NYSE: GE) said its Healthcare Financial Services business has agented a senior secured credit facility of up to USD 12.5m for Cardiva Medical Inc.
The proposed IFC investment consists of a US$12.0 million A Loan for IFC s own account and an agented Parallel Loan in the amount of US$8.0 million.
21 February 2014 -- Philadelphia US-based LBC Credit Partners said it agented a USD 15.0 m second lien term loan to support the acquisition of Alliance Steel Inc.

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