Process agent. It sounds a bit ominous, doesn’t it? Like a menacing villain in a James Bond film. He’s bringing something, but it isn’t flowers. The good news is process agents are actually quite useful and can be helpful in certain types of business transactions involving court proceedings.
This week we are spotlighting process agents with our sister company, Jordans Trust Company. Process agents are a fairly common business service, though not very many companies are aware of them and what they do. Your company may be part of a larger business that is completing a merger while in a different part of the world. You may be preparing your successful small business to be sold and final documents must be filed with the Court. From owner-managed businesses to professional advisors doing high volume work for their clients, there are virtually no restrictions on who can use one.
A process agent is an address where notices of legal proceedings can be served on behalf of the client. The proceedings may be an agreement or a contract subject to UK law. When parties enter into a contract under UK law jurisdiction and the involved parties do not have a UK address, such as an offshore company, a process agent may be used. Process agents are commonly required for transactions such as mergers and acquisitions.
It is worth noting that a process agent is much more than a basic mail forwarding facility. The process agent has an important role to ensure legal notices are delivered timely, as not doing so could significantly impact all parties involved.
How does it work?
An important element of understanding how using a process agent works is the process agent letter. This document confirms the relationship between the appointing party and the process agent.
The letter is evidence which can be provided to the other parties involved which specifies the names of the Process Agent and appointing party, the address to which notices can be served and the legal documents to which the Process Agent has agreed to act upon. The Process Agent letter is therefore an essential document that is often required prior to the execution of official legal documents.
For such an important task, obtaining a process agent is quite straightforward. Fill out a simple order form, allow 2 – 3 working days for processing, obtain your process agent letter, and then begin receiving your legal notices. Same day service is also an option if you’re really pressed for time. You can extend the time period your process agent is active if needed, or end the agreement upon completion of your business transaction.
For further information about process agents, get in touch with the Jordans Trust Company dedicated team at email@example.com.