Agency: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson
(Add links.)
imported>Doug Williamson
(Add link.)
 
Line 45: Line 45:
* [[Behavioural economics]]
* [[Behavioural economics]]
* [[Correspondent banking]]
* [[Correspondent banking]]
* [[Credit rating agency]]
* [[Credit reference agency]]
* [[Credit reference agency]]
* [[Del credere agent]]
* [[Del credere agent]]

Latest revision as of 18:16, 4 July 2022

1. Law.

A formal legal relationship between at least two parties in which one, the principal, authorises the other, the agent, to represent the principal's legal interests and to perform legal acts that bind the principal.


2. Representation.

A similar less formal relationship which may be legally binding, but which may not, depending on the words and actions of the related parties.


3. Intermediary.

A business or other organisation which facilitates business or other introductions.

For example an employment agency or an estate agency.


4. Government.

A governmental or quasi-governmental agency is an entity owned or sponsored by a government.


5. Behavioural economics and psychology.

The ability of individuals to exercise a significant degree of personal control over their own economic and other circumstances, or the psychological belief of an individual that they have such abilities.


6. Corporate treasury.

Agency is a structural corporate treasury role where the day-to-day treasury decisions are made at local level by operational management, but the execution is centralised to obtain efficiencies and economies of scale.

An agency treasury structure is associated with a relatively high degree of centralisation.

(Contrasted with an advisory treasury which is relatively decentralised).


See also