Special Agency

Special Agency :

Universal Agency

A universal agency authorizes the agent to do every transaction that a principal can legally delegate. A princi¬pal who will be traveling for some time may, for example, give an agent authority to deal with all business and per¬sonal transactions for the principal during that absence.

General Agency

A general agency authorizes an agent to do all acts re¬lated to the principal’s business, which may include nego¬tiating contracts, establishing credit, advertising, arranging for shipping and setting up overseas offices and outlets.

Special Agency

A special agency gives an agent limited powers to conduct one transaction or a specific series of transactions. A contract with a representative to secure the sale of cer¬tain components to a particular factory creates a special agency.

Agency for International Development

(U.S. government) Formerly a unit of the now defunct United States International Development Cooperation Agency, in 1999 the ADD was transferred to the Department of State and reports directly to the Secretary of State. AID administers U.S. foreign economic and humanitarian assistance programs in the developing world, Central and Eastern Europe and the Com¬monwealth of Independent States. Among the economic pro¬grams are those that foster employment growth and that promote use of clean and efficient energy and environmental technologies. Maintains economic, social and demographic statistics for many developing countries. AID has field mis¬sions and representatives in approximately 70 developing countries in Africa, Latin America, the Caribbean and the Near East. Contact: Agency for International Development; Ronald Reagan Building; Washington, DC 20523-1000 – USA - Tel : [1] (202) 712-0000 - Fax : [1] (202) 216-3524

Agency for International Development - (law)

An individual or legal entity authorized to act on be¬half of another individual or legal entity (the principal). An agent’s authorized actions will bind the principal. A sales representative, for example, is an agent of the seller (insurance) An individual who represents a single insur¬ance company in the sale of insurance services.

Agent Ad Litem - (shipping/law)

An agent who acts on behalf of a principal in prosecuting or defending a lawsuit.

Agent Bank - (banking)

(a) Bank acting for a foreign bank

(b) Bank handling administration of a loan in a syndicated credit

Aggregate Tender Rate - (shipping)

A reduced rate given to a shipper who tenders two or more shipments of the same or similar class at the same time and place

Aggregated Shipments - (shipping)

Numerous shipments from different shippers to one consignee that are consolidated and treated as a single consignment

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