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What to Look For When Choosing Process Agents

What to Look For When Choosing Process Agents

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Process agents

When companies enter into financing transactions with foreign entities, the terms of the contract often include a provision requiring a UK process agent be appointed. The purpose of the process agent is to ensure that non-resident contract parties can be served with legal proceedings and specific transaction documentation in a jurisdiction outside their home country.

Unlike a private person or company who is designated as a registered agent, a professional process agent has commercial offices throughout the country and maintains an online database of their appointments. This enables them to accept service of process in real time and provide immediate notice to clients that they have been served. Professional process agents are also aware of legislative changes that may impact how they are required to act and can notify their clients accordingly.

What to Look For

When choosing a process agent, be sure to choose one that offers flexible engagement options. Some companies allow their clients to enter a recurring annual contract for each deal while others charge a flat, fixed-term fee upfront for the life of a contract.

If your business is a broker or freight forwarder, you will need to designate a process agent for each state in which you operate. A great option is to select a company that offers blanket coverage with agents in every state, which can save you a lot of time and money. For example, a trucking company that travels interstate frequently can save significant time and money by selecting a service provider that offers BOC-3 filings along with their other state services.

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