Principal Agent Clause Samples
The Principal Agent clause defines the relationship between a principal, who authorizes work or actions, and an agent, who acts on the principal's behalf. In practice, this clause outlines the agent's authority to make decisions, enter into contracts, or perform specific tasks for the principal, often within set limits or under certain conditions. Its core function is to clarify the scope of the agent's powers and responsibilities, thereby reducing the risk of misunderstandings or unauthorized actions in the course of the business relationship.
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Principal Agent. 10.1 The Parties agree that the referral of a matter to the Principal Agent in accordance with the provisions of this Agreement shall be subject to the following provisions –
10.1.1 the Principal Agent shall act as an expert and not as an arbitrator;
10.1.2 it is the intention that determination shall be made as quickly and in the most effective manner reasonably possible in the circumstances;
10.1.3 the fees of the Principal Agent, if any, and any costs incurred by the Principal Agent, if any, shall be borne and paid for by the Party determined by the Principal Agent. Any other costs which the Parties may incur in relation to the determination shall be for their own account; and
10.1.4 the determination of the Principal Agent shall, in the absence of manifest error and subject to clause 11 below, be final and binding on the Parties and shall not be subject to appeal or review.
10.2 The Parties agree that in the event of the Builder and/or the Owner (in this clause referred to as the “disputing party”) disputing –
10.2.1 whether the Works have reached a stage where a Practical Completion Certificate may be issued by the Principal Agent; or
10.2.2 any determination or instruction given by the Principal Agent pursuant to the provisions of clauses 5.1.5.4.1, 6.8.2, 7.1.2 and/or 9.5, then the Principal Agent and the disputing party shall meet within 3 (three) days after being requested by any one of the Parties to do so with the view to resolve the dispute raised by the disputing party in respect of the aforesaid matters.
10.3 In the event of the Principal Agent and the disputing party reaching an agreement in respect of the matter in dispute, such agreement shall be the Principal Agent’s determination in respect that matter and same shall be binding on the Owner and the Builder.
Principal Agent. ▇▇▇▇ Holdings
Principal Agent. 4.1. The Owner undertakes to ensure that the Principal Agent strictly complies with all the terms and conditions of this Agreement and the Building Contract.
4.2. Should the Owner elect not to appoint a Principal Agent, then the Owner shall be directly responsible for the fulfillment of such role, and the obligations and consequences that follow as a function thereof.
Principal Agent. As nominated by employer Clause applicable
Principal Agent. The Issuer shall procure that, so long as any of the Bonds remains outstanding, there is at all times a Principal Agent for the purposes of the Bonds and the Issuer may, subject to the prior written approval of the Trustee (such approval not to be unreasonably withheld, delayed or refused), terminate the appointment of the Principal Agent. In the event of the appointed office of any bank being unable or unwilling to continue to act as the Principal Agent or failing duly to determine the Rate of Interest or the Interest Amount for any Interest Period, the Issuer shall, subject to the prior written approval of the Trustee (such approval not to be unreasonably withheld, delayed or refused), appoint the London office of another major bank engaged in the London interbank market to act in its place. The Principal Agent may not resign its duties or be removed without a successor having been appointed.
Principal Agent. Principal agent’s and agents’ interest or involvement in the works other than a professional interest [6.3]
Principal Agent the Principal Agent to:
(A) Deliver: deliver the BIE Tendered Notes or BIE New Notes (as the case may be) to such account as is specified in the BIE Request Notice; and
Principal Agent. Infracon Consulting Tel. No.: (▇▇▇) ▇▇▇ ▇▇▇▇ E-mail: ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Physical address: ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ 1.3 Agent (1): ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Architects: Architect Postal Address: ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇ Tel. No.: (▇▇▇) ▇▇▇ ▇▇▇▇ Email: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ <▇▇▇▇▇▇▇@▇▇▇▇.▇▇.▇▇> 1.4 Agent (2): Infracon Consulting Agent's Service: Quantity Surveyor Tel. No.: (▇▇▇) ▇▇▇ ▇▇▇▇ E-mail: ▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Physical address: ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ 1.5 Agent (3): Tshiki Consulting Engineers Agent's Service: Structural / Civil Engineer ▇▇▇.▇▇.: (▇▇▇) ▇▇▇ ▇▇▇▇ E-mail: ▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇ Physical address: ▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, East London 5247 1.10 Interest of Principal Agent or other Agents in the project - No 2.0 -
Principal Agent. The person or entity appointed by the employer and named in the contract data for organs of state and other public sector bodies. In the event of a principal agent not being appointed, then all the duties and obligations of a principal agent as detailed in the agreement shall be fulfilled by the employer’s representative as named in the contract data for organs of state and other public sector bodies 1 TARGETED SUBCONTRACTORS: Subcontractors that must be appointed to a total of 30% or more of the contract sum, by the contractor, projects with a contract sum of the amount determined by the Minister in terms of the latest Preferential Procurement regulations, as may be amended from time to time. F:........................V:............................T:...................... Item 2 A2.0 LAW, REGULATIONS AND NOTICES Clause 2.0 F:............................. V:............................ T:............................ Item Bill No. 1 Preliminaries
Principal Agent. The CITY authorizes GMA to act as its agent for the purpose of performing its obligations under this Agreement. No other principal-agent relationship between the parties is created by this contract. GMA and its agents, subcontractors, officers and employees, shall have the authority to do all things necessary and appropriate to carry out GMA’s obligations under this Agreement. No agent, subcontractor, officer, or employee of GMA will be considered an employee or officer of the CITY for any purpose and no agent, subcontractor, officer or employee of GMA is entitled to any of the benefits and privileges of a CITY employee or officer under any provision of the statutes of State of Georgia and/or ordinances of the CITY.