{"id":174369,"date":"2022-08-11T07:59:39","date_gmt":"2022-08-11T06:59:39","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=174369"},"modified":"2024-05-21T06:09:37","modified_gmt":"2024-05-21T05:09:37","slug":"agency-agreement","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/commercial-contracts\/agency-agreement\/","title":{"rendered":"What is an Agency Agreement in England?\u00a0"},"content":{"rendered":"\n

If your business retains agents, you must have adequate agency agreements with the necessary provisions. Businesses that trade internationally often use commercial agents to help them facilitate transactions. An agent is a middle-man that assists a business owner in obtaining or selling certain goods. They are selected for their specialist knowledge of that industry. Additionally, agents can also perform certain business functions that can help your business bring in a profit. An agency agreement is a legal instrument you might use to hire and utilise an agent. This article will explain what an agency agreement is and what provisions you should include. <\/p>\n\n\n\n

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What is an Agency Agreement?<\/h2>\n\n\n\n

Agency agreements are legally binding contracts that form a relationship between an agent and another business. Typically in a contract, the business retaining the agent is known as \u2018the principal\u2019 and wishes to use the agent\u2019s knowledge or expertise to buy, sell or acquire specialist services. The agent is the intermediary and acts on the principal\u2019s behalf. <\/p>\n\n\n\n

Who Might Use an Agency Agreement?<\/h2>\n\n\n\n

Agency agreements are more common than most people realise. Businesses enter agency contracts when they instruct their lawyers to advise them or act on their behalf in a commercial dispute<\/a>. Similarly, they may instruct a sales agent to acquire or sell goods or property for them.\u00a0<\/p>\n\n\n\n

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Agency agreements are also common in the accounting sector. Many businesses instruct their accountants to file their taxes for them each year. This type of service is an agency contract as the accountant acts as an agent for the principal, using their specialist knowledge of tax law to help you recover more money from HMRC<\/a>.<\/p>\n<\/div>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\n

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