Agency Agreement
/ˈeɪdʒənsi əˈɡriːmənt/
Definitions
- (n.) A contract wherein one party (the agent) is authorized to act on behalf of another (the principal) in business transactions or legal matters.
The company entered into an agency agreement to appoint the firm as its sales representative.
Forms
- agency agreement
- agency agreements
Related terms
See also
Commentary
Agency agreements must clearly define the scope of authority and responsibilities to avoid liability issues for the principal.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.