Commercial Agency

Commercial Agency

Commercial Agency in International Trade

Meaning of Commercial Agency, according to the Dictionary of International Trade (Global Negotiator): A relationship between one individual or legal entity (the agent) who represents, acts on behalf of, and binds another individual or legal entity (the principal) in accordance with the principal's request or instructions. In some countries, the role of commercial agencies is more narrowly defined as a relationship created only by a written contract or power of attorney, entered into by a principal and a person who is designated to act for the principal within the limits of the written contract or the attributions of the power of attorney. In international trade, relationships between agents and their clients (principals) are regulated through a Model of International Commercial Agency Contract. See agent; distributor; sales representative.


Posted

in

,

by

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *