Commission Agreement
"What is the difference between a broker and a commission agent?"
Quick Answer
An agreement where a commission agent undertakes to buy or sell negotiable instruments or movable goods in their own name but on the account of the principal, in exchange for a fee.
Scope and Legal Distinctions
A commission agent may transact in its own name for another's account. That structure differs from a disclosed representative signing directly for the principal.
What to Check in Practice
Allocate price instructions, custody, expenses, reporting, remittance and liability for the counterparty; preserve transaction and settlement records.
Sources & Authorities
Statutory framework and official guidance for this definition.
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