An agency agreement in transport and logistics establishes a legal representation: the principal authorizes an agent to conduct negotiations, execute contracts, or perform logistics activities such as shipping, warehousing, or customs clearance on the principal's behalf.
Source: https://www.investopedia.com/terms/a/agency-agreement.asp
Tools that match this term
You might also be interested in these terms
Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.
Weekly: Top news, industry facts and insights from the world of logistics – free.
Share your knowledge, ask follow-up questions, or add practical insights to this page. Every contribution is moderated before publication.