Intermediate definition
According to Article 424 of People's Republic of China (PRC) Contract Law: "An intermediary contract is a contract in which the intermediary reports the opportunity to conclude a contract to the client or provides media services for concluding a contract, and the client pays the remuneration." Therefore, the so-called intermediary refers to a system in which the intermediary reports the opportunity to conclude a contract to the client or provides media services for concluding a contract, and the client pays remuneration. Intermediaries are intermediaries who report information opportunities or provide media contacts for clients to conduct civil legal acts with third parties.
The difference between intermediary and agency
The difference between an agent and an intermediary is that an agent acts on behalf of the principal based on the power of attorney, and he wants to express his will independently, while the intermediary does not act on behalf of the principal, but only reports the contracting opportunity to the principal or acts as a contracting medium, and does not participate in the relationship between the principal and the third party. Brokers are not obliged to hand over the consequences of handling affairs to their clients. In short, the intermediary may not perform legal acts on behalf of the client, while the agent performs legal acts on behalf of the client. In addition, intermediaries are usually paid, and agents also include free agents.
Futures broker
Article 10 of Part III of Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Futures Dispute Cases (Law Interpretation 2003 10) points out that futures market intermediaries refer to citizens, legal persons, futures companies or customers who are "entrusted by futures companies or customers" and "provide them with intermediary services to conclude contracts or futures brokerage contracts", and futures companies or customers pay remuneration to intermediaries according to the agreement.