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English to Romanian translations [PRO] Law/Patents - Law: Contract(s)
English term or phrase:disclosed agent
Question: What is an agency agreement?
Answer: An agency agreement is a contract between an agent and a principal. The agent is an independent commercial intermediary who acts, on a permanent basis, for a principal to promote and sell the principal’s products. A ***disclosed agent*** reveals that he acts on behalf of the principal. He merely passes orders to the supplier of the goods and is not the contracting sales entity. He cannot act as importer of the goods. In the case of a disclosed agent the principal/owner of the goods will have to act as importer of the goods. An undisclosed agent does not reveal his principal – he acts in his own name, however, on behalf of the principal/owner of the goods. He contracts with the customers and can act as importer of the goods.