Buying Agent

Buying Agent in International Trade

Meaning of Buying Agent, according to the Dictionary of International Trade (Global Negotiator): An agent who purchases goods on behalf of foreign buyers. The buying agent represents and buy a specific kind of products within a specific territory, which can be a country or multiple countries. The responsibilities of the Buying Agent may include, among others, the following: identifying manufacturers and suppliers of products within the described territory; negotiating prices; terms of delivery and payment; managing the international transport of documents which comply with export and import procedures; assisting and serving as a translator of the Principal's representatives when visiting the country to negotiate purchase contracts or to check on the manufacturing of products. Also called purchasing agent. Model of International Buying Agent Contract.