SUBAGENT Meaning and
Definition
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A subagent is an individual or entity authorized by an agent to act on their behalf in carrying out specific duties or responsibilities. Under an agency relationship, which involves one party (the agent) acting on behalf of another (the principal), a subagent is appointed to assist the agent in fulfilling their obligations.
The subagent, also referred to as a "subordinate agent," represents the agent rather than the principal directly. They possess limited authority and can only perform tasks within the scope of their appointment and the authority granted by the agent. The subagent's actions are binding upon the agent, who is then accountable to the principal for the subagent's conduct.
Typically, the agent delegates some of their responsibilities to a subagent based on their expertise or availability. The agent remains responsible for the overall agreement or transaction between the principal and the subagent's actions. This arrangement allows the agent to leverage the subagent's skills or resources to effectively carry out their agency obligations.
While the agent still maintains control and decision-making authority, they may rely on the subagent's expertise in certain matters. The subagent, however, must act in the best interests of the agent and ensure that their actions align with the agent's instructions and the principal's interests.
In conclusion, a subagent is an authorized representative appointed by an agent to assist in fulfilling their agency obligations within the boundaries specified. This subagency relationship allows for the effective delegation of tasks and responsibilities while maintaining overall control and accountability with the agent.
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A person employed by an agent to transact a part of his business.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for SUBAGENT
- aubagent
- zubagent
- xubagent
- dubagent
- eubagent
- wubagent
- sybagent
- shbagent
- sjbagent
- sibagent
- s8bagent
- s7bagent
- suvagent
- sunagent
- suhagent
- sugagent
- subzgent
- subsgent
- subwgent
- subqgent
Etymology of SUBAGENT
The word "subagent" is derived from the combination of two roots: "sub-" which is a Latin prefix meaning "under" or "below", and "agent", which is derived from the Latin word "agens", meaning "doing" or "acting".
The term "agent" has its origins in the Latin word "agens" and the present participle form "agentis", which referred to someone who acts or performs a specific duty on behalf of another. Over time, this term evolved to refer to someone who is authorized to act on behalf of another person or organization, often in a legal or business context.
The addition of the prefix "sub-" conveys the idea of being under or below the primary agent. Thus, a "subagent" is a person who acts on behalf of another agent, typically with the same authority and responsibilities, but under the primary agent's supervision and direction.
