del credere agency

del credere agency
an agent who, in selling goods on credit, guarantees to his principal the solvency of the purchaser and that the purchaser will duly perform his part of the contract. This guarantee attracts an extra commission (known as a del credere commission). See agency.

Collins dictionary of law. . 2001.

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  • Del credere — A del credere (Italian for belief or trust) agent, in English law, is one who, selling goods for his principal on credit, undertakes for an additional commission to sell only to persons who are absolutely solvent. His position is thus that of a… …   Wikipedia

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  • agency — A relationship between two persons, by agreement or otherwise, where one (the agent) may act on behalf of the other (the principal) and bind the principal by words and actions. Relation in which one person acts for or represents another by latter …   Black's law dictionary

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  • agent — 1) Any person appointed by another (the principal) to act on his or her behalf. See agency relationship 2) In contract law, a person appointed by a principal to negotiate a contract between the principal and a third party. If an agent discloses… …   Big dictionary of business and management

  • delegate — del·e·gate 1 / de li gət/ n [Medieval Latin delegatus, from Latin, past participle of delegare to appoint, put in charge]: a person empowered to act on behalf of another: as a: a person who is authorized to perform another s duties under a… …   Law dictionary

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