A person who is recognised at law as having the power to create or alter legal rights, duties or relationships of another person, the principal. The agent facilitates contracts between the principal and a third party (the customer) by introducing the third party, soliciting orders from the third party or by concluding contracts with the third party on behalf of the principal. An agent usually benefits from the relationship by receiving a commission from the supplier. An agent does not contract with customers in the agent's own right and the agent therefore generally has no liability to them.

For further information, see Practice note, Agency.

In the context of a syndicated loan, also known as the facility agent or agent bank. The financial institution that acts as agent for a syndicate of lenders in administering the facility with the borrower. After the facility agreement is signed, payments and communications (for example, drawdown requests and compliance certificates) between the borrower and the lenders are made through the agent.