How You Can Explain Various Kinds Of Middlemen?


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abdul rehman answered
The following are the kinds of middlemen.

General agent:
A general agent is appointed to do all acts in connection with a particular business. A person, who is appointed a general manager, is a general agent.

Special agent:
A special agent is appointed to do some particular act. A person who is appointed to purchase a particular house for him is a special agent.

Universal agent:
A universal agent is the person whose authority is unlimited. He enjoys extensive powers to transact every kind of businesses on behalf of his principle.

Mercantile agent:
A mercantile agent is the person who has authority to sell goods or to buy goods or to raise money on the security of goods.

Commission agent:
A commission agent is the person who buys or sells goods for his principal on the best possible terms in his own name.

Del credere agent:
A del credere agent is an agent, who in consideration of an extra remuneration called the del credere commission gives guarantee to his principal that third persons with whom he enters into contract shall perform their obligations.

A broker is one who makes bargain for another, and receives commission for doing so.

An auctioneer is an agent who is authorized to sell goods to the highest bidder at a public sale for commission.

An indenter is one who, buys or sells on behalf of his principal. He buys from abroad. He also gets commission.

The wholesaler is connecting link between manufacturer and retailer. Generally, the wholesalers buy goods and commodities in large quantities with a view to selling the to the retailer who sell them to consumers.

The retailer buys the goods from wholesaler and sells them to the customers in small units. Thus, the process of purchasing goods from the wholesaler to sell them to the customers is called retail trade.

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