Many people are familiar with the term ‘what is a process agent’ but may not be aware of exactly what one does. A process agent is a representative upon whom legal proceedings and documents can be served on behalf of a non-resident contract party or individual. This role is often required when a company enters into contracts with other companies, sovereign states or lending agencies/lenders that are governed by foreign law.
Navigating International Contracts: The Importance of a UK Process Agent
For example, when a trucking/transportation company obtains its US DOT number and MC number from the Federal Motor Carrier Safety Administration (FMCSA) it must file Form BOC-3 with the FMCSA designating a process agent in each state where it intends to transport freight or cargo. This is to ensure that the public can legally serve transportation businesses in each jurisdiction.
The process agent is often a member of the same corporate family as the business’ registered agents and is also commonly known as a resident agent, statutory agent or a agents for service of process in the United States. The process agent’s name and contact information must be listed in the company’s formation documents so that it is a public record.
As the need for international process agent services increases across multiple industries, it is vital that companies and individuals find a professional partner who can offer flexible and customised services, especially during cross-border financing deals. This way, parties can be confident that their transaction documentation will not be missed or mishandled and a costly default judgment avoided.