This short article looks at the duties and obligations of an agent and points to discuss.
There are a number of regulations that apply some as a result of common law and others as a result of the Commercial Agents (Council Directive) Regulations 1993.
Agents are obliged:
- to act in good faith and conscientiously
- to obey all reasonable lawful instructions of the principal
- to act within the limits of their authority
- to avoid any conflict of interest with the principal
- to disclose all material facts to the principal and to refrain from divulging confidential information to third parties
- not to make a secret profit or accept bribes
- to account to the principal for property and money of the principal which is under the agents control and
- not to delegate their authority without the principal’s consent.
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