What is the role of a Process Agent?
A process agent or a registered agent/resident agent (as it is sometimes referred to in the US) can act in a broad capacity for a company and/or individuals, including but not limited to; acting as a process agent for court actions, receiving documents in connection with arbitration proceedings and receiving notices under contracts where an independent party is needed.
An example of a typical arrangement involving a process agent is where an overseas entity raises a loan from an institution. The lending institution will require the overseas entity to appoint an English process agent to whom they can deliver court proceedings in the unfortunate event that the entity defaults on that loan.
Why do you need a process agent?
These days it’s quite common for transaction parties to be situated in different countries.
If one of the involved parties does not happen to have a physical presence or address within the country where the transaction is taking place, serving legal documentation can become a long and overly complicated process. Further to that, if papers have to be served abroad, where the relevant transaction party has its presence, this can cause delays, among other issues.
It is recommended that each party without a presence or representation in the jurisdiction in question appoints a process agent. Service at the address of said process agent then constitutes service for legal procedures.
You might appoint a process agent in the following situations:
Agent for Arbitration
When you appoint an Arbitration Agent, our offices in England, Hong Kong and Jersey will:
- Act as the agent for service of notice of arbitral proceedings on a non-English domiciled company.
- Accept service of such notice in England on behalf of that company in the event that there is an express submission to arbitration included in English law documents.
Agent as Authorised Representative for New York
When you appoint an Agent as Authorised Representative, they will be able to receive notice and proceedings in a country foreign to your own.
Law Debenture Corporate Services Inc. offers services for your finance, aviation, capital market, securities and IFC transaction.
Section 6(a) of the U.S. Securities Act of 1933 requires foreign issuers to have their registrations statements signed by their “duly authorized representative in the United States.” Law Debenture can serve as your U.S. Duly Authorized Representative.
Agent for Companies Act
You can appoint an agent on your behalf to:
- Receive any service of proceedings issued out of the Courts of England regarding any legal action or proceedings.
- Receive on your behalf any notice or other communication served on you pursuant to Sections 1046 – 1053 and 1056 of the Companies Act 2006.
Agent for Land Registry
You can appoint an Agent for Land Registry:
- To receive any communication from HM Land Registry.
- For the service of proceedings issued out of the Courts of England in each case in respect of the property specified.
Agent for Notices
When you appoint an Agent for Notices, an agent from our England or Hong Hong Kong office will accept service of any notice or document required to be served on us pursuant to specific Agreement(s).
Agent for Patriot Act
Law Debenture Corporate Services Inc. is one of the few companies in the world that are able to help you comply with U.S. requirements when opening a bank account in America from a foreign country.
The Patriot Act states that the U.S. Treasury Department may issue legal notices to any foreign banks with a correspondent account in the U.S. and can request records relating to that account.
What is important when appointing a Process Agent?
When you appoint a process agent, you want to be sure you’re selecting an experienced company that operates in the most efficient and professional manner possible.
If you need to discuss complicated arrangements or have multiple documents and want to discuss an arrangement that suits your requirements, our expert team will be able to help.
Contact one of our global offices today and let’s discuss your needs: