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principle to principle basis

English translation: principal to principal

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14:09 Feb 7, 2011

English to English translations [PRO]
Law/Patents - Law: Contract(s)

English term or phrase: principle to principle basis

It is expressly agreed that the basis of all transaction between XXX and YYY in pursuance of this Agreement shall be on principle to principle basis and no party is authorised to act as the agent of any other for any purpose whatsoever.

Florance Not a translator KudoZ activity Questions: 75 (none open) (4 closed without grading) Answers: 7
Local time: 04:14

English translation:principal to principal

Explanation:
I think you're dealing with a poorly written source text. "principle" is a misspelling of principal

In an agency relationship, the principal is the person who gives authority to another, called an agent, to act on his or her behalf.
http://legal-dictionary.thefreedictionary.com/principal

Principal: Party that has the primary responsibility on a liability or obligation, as opposed to an endorser, guarantor, or surety.
http://www.businessdictionary.com/definition/principal.html