foreign principal

foreign principal

a person outside the UK instructing an agent (see AGENCY) within the UK. It used to be the case that where an agent acting for a foreign principal entered into a contract with a third party, there was a strong presumption that there was no privity between the foreign principal and the third party, with the consequence that the agent might be made personally liable on the contract. This presumption has now weakened, to the extent that the existence of a foreign principal is regarded as one factor only to be taken into account in construing the parties' agreement.
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Apart from this, the plant revival is undertaken either independently by original owners or new investors or under a joint venture agreement with foreign principal or by the foreign principal independently through the purchase of plant.
Either the Indian Agent on behalf of the foreign principal or the foreign principal
The local company and its foreign principal would decide in the next 10 days about the price of vehicle and number of units to be produced with a detailed business plan, Waseem said.
The indictment against the two men contains 12 counts: conspiracy against the United States, conspiracy to launder money, unregistered agent of a foreign principal, false and misleading US Foreign Agents Registration Act (FARA) statements, false statements, and seven counts of failure to file reports of foreign bank and financial accounts.
Under Saudi law, the foreign principal and the local commercial agent must enter into the Agency Contract which must be registered within three months of it commencing with the Commercial Agencies Department of the Ministry of Commerce and Investment ("Agencies Department").
He simply wrote: "Salary not based solely on services rendered to the foreign principal [Turkey]"
More stringent gift rules apply to gifts and travel benefits provided by lobbyists, lobbying organization and agents of a foreign principal.
One of the provisions of CAL which was viewed negatively was the provision which entitled an Omani agent to claim compensation from the foreign principal in case of an 'unjusti- fied' termination of an agency agreement
Likewise, if the office in India merely undertakes auxilliary activities or acts as a communication channel to receive and give information to its foreign principal, it cannot be said that there is a permanent establishment in India under the double tax avoidance agreement.
interests of a foreign principal must be labeled to show the
related corporation has the authority to conclude contracts in the name of a foreign principal and habitually exercises that authority (see United States Model Income Tax Convention, Art.
79) Though agent was not clearly defined, FARA's definition of foreign principal included foreign business entities.

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