Agency
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
- Advisory
- Agency costs
- Agency problem
- Agency risk
- Agency theory
- Agent
- Agent based modelling
- Behavioural economics
- Correspondent banking
- Credit rating agency
- Credit reference agency
- Del credere agent
- Delegatus non potest delegare
- Export credit agency
- Gig economy
- Government agency
- In-house bank
- International development agency
- International Energy Agency
- Multilateral Investment Guarantee Agency
- National Crime Agency
- Principal
- Syndicate
- United States Agency for International Development
