Commission Agent
/ˈkɒmɪʃən ˈeɪdʒənt/
Definitions
- (n.) A person who acts as an intermediary in the sale or purchase of goods on behalf of a principal and receives a commission for the transaction.
The commission agent facilitated the sale of cotton between the farmer and the exporter.
- (n.) In agency law, a commission agent is authorized to negotiate contracts or sales but typically does not take ownership of the goods.
Unlike a merchant, the commission agent never held title to the goods during the transaction.
Forms
- commission agents
Related terms
See also
Commentary
A commission agent differs from other agents in that they earn compensation based on commission and often do not take ownership of goods; precise definition may vary by jurisdiction.
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.