Agent
Agent is a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods. There are four types:
(According to military dictionary, agent— in intelligence usage, one who is authorized or instructed to obtain or to assist in obtaining information for intelligence or counterintelligence purposes.)
Agent refers who is authorized to transact business and exercise authority on behalf of another party.
Agent is an intermediary representing either the buyer or the seller, not taking title to the goods, and making a commission for work completed.
Agent refers to a military service or agency thereof which, under the Defense Materiel Utilization Program, provides supplies to another military service or agency.
Agent is someone who legally represents the insurer, has the authority to act on the insurer’s behalf, and can bind the insurer (principal) by expressed authority, by implied authority, and by apparent authority.
Webster Dictionary Meaning
- One who acts for, or in the place of, another, by authority from him; one intrusted with the business of another; a substitute; a deputy; a factor.
- An active power or cause; that which has the power to produce an effect; as, a physical, chemical, or medicinal agent; as, heat is a powerful agent.
More from this Section
- Frequency programs (FRs)
Frequency programs (FRs) are designed to reward customers who buy frequently and in substantial ... - Enterprise knowledge management
Enterprise knowledge management is a combination of the database contents and the technology ... - Price discrimination
Price discrimination occurs when a company sells a product or service at two or more prices ... - Enterprise resource planning (ERP) systems
Enterprise resource planning (ERP) systems are typically used by manufacturing companies ... - Partner relationship management (PRM)
Partner relationship management (PRM) refers to those activities that the firm undertakes ...