Agent

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An Intermediary acts as True Agent if, acting on Buyer’s behalf, it agrees the purchase of an Asset from Seller by Buyer.

  • True Agent acts at all times on Buyer’s behalf and never in its own capacity.
  • A True Agent will not record the Asset in its own trading books at any time.
  • There is never any contract with respect to the Asset either
    • between True Agent and Seller, or
    • between True Agent and Buyer.
  • Buyer pays True Agent a Commission calculated on the contract between Buyer and Seller.

See also