Knowing the difference between principal and agent key for contracts
When intermediaries are involved in complex projects, it is important that they fully understand how the legal relationship
with suppliers is created. This will avoid someone who means to contract as an agent from unwittingly being liable as a principal.
ITIC – the International Transport Intermediaries Club – recently settled a case where a ship manager was caught up in a dispute
between a supplier of grabs and an insolvent owner.
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