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The several denominations of the
Company's servants in India were, writers, factors, junior merchants, and senior merchants: the business of the writers was that of clerking . In the capacity of writers they remained during five years. The first promotion was to the rank of factor; the next to that
763:
Before the 20th century, factors were mercantile intermediaries whose main functions were warehousing and selling consigned goods, accounting to principals for the proceeds, guaranteeing buyers' credit, and sometimes making cash advances to principals prior to the sale of the goods. Their services
1111:
Section 1(1) of the
Factors Act 1889 defines a mercantile agent as "a mercantile agent having in the customary course of his business as such agent authority either to sell goods, or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security of
939:
In territories without any other regular authorities, especially if in need of defence, the company could mandate its factor to perform the functions of a governor, theoretically under authority of a higher echelon, including command of a small garrison. For example,
804:
and the
British East India Company based factors at trading posts in numerous sites all over Asia. In 18th- and early 19th-century China and Japan, however, the governments limited European traders to small, defined areas: the Dutch Factory was allowed to operate on
728:, but factors are also used to a great extent in the shoe, furniture, hardware, and other industries. The number of trade areas in which factors operate has increased. In the United Kingdom, most factors fall within the definition of a
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years. In the deed poll under which the HBC was governed, there were 25 chief factors and 28 chief traders. Chief factors usually held high administrative positions.
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in 1821, had commissioned officers who included the ranks of chief trader and chief factor. They all shared the profits of the company during its
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were of particular value in foreign trade, and factors became important figures in the great period of colonial exploration and development.
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over the consigned goods that covers any claims against the principal arising out of the factor's activity.
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17:
875:
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964:
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The term and its compounds are also used to render equivalent positions in other languages, such as:
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A relatively large mercantile company could have a hierarchy including several grades of factor. The
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A debt factor, whether a person or firm (factoring company), accepts as assignee book debts (
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1049:(1816-07-25 – 1882-01-03) was a Chief Factor who became superintendent of the west-of-the-
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hierarchy ranked "factors" between "writers" (junior clerks) and "junior merchants".
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1233:. Berkeley and Los Angeles: University of California Press. Retrieved 13 April 2022
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transacting business that operates in their own name and does not disclose their
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747:, "he/she/it does/makes". Historically, a factor had their seat at a sort of
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161:
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40:
1218:
of junior merchant; in each of which the period of service was three years.
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of
American Indians), e.g. in the Dutch factory on Dejima, mentioned above.
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30:"Chief factor" redirects here. For chief factors in group theory, see
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of goods (or documents of title representing goods, such as a
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in North
America, areas now in the United States and Canada.
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WorldStatesmen, for
Vietnam; see also under other countries
945:
737:
349:
1207:. Vol. 3 (4 ed.). London: J. Madden. p. 23
1175:, 5th ed., s.v. "factor" (Oxford: Oxford UP, 2003), 196.
1136:, 2nd ed. (London: Kluwer Law International, 1998), 103.
743:
The term derives from the Latin for "doer, maker", from
997:) as security for short-term loans; this is known as
1231:
Hudson's Bay
Company As an Imperial Factor 1821–1869
1037:, or for a partnership that is unable to function.
774:United States Government Fur Trade Factory System
1253:
1186:Encyclopædia Britannica Ultimate Reference Suite
976:(literally 'supreme head'; but also used for a
1162:, 2nd ed., s.v. "factor" (Collins, 2001), 163.
697:, called factorage. A factor is a mercantile
666:
863:. Unsourced material may be challenged and
689:is a type of trader who receives and sells
673:
659:
1188:. Chicago: Encyclopædia Britannica, 2012.
927:Learn how and when to remove this message
789:, as restructured after merging with the
647:London Maritime Arbitrators Association
14:
1254:
1184:Encyclopædia Britannica. "Factoring",
724:Most modern factor business is in the
602:International Convention on Load Lines
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705:. A factor differs from a commission
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861:adding citations to reliable sources
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1158:W.J. Stewart & Robert Burgess,
1029:(called a tutor) can be appointed (
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637:International Maritime Organization
592:Ballast Water Management Convention
558:International Convention on Salvage
439:The captain goes down with the ship
24:
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1004:
25:
1298:
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1079:, a broker or commission merchant
1013:, a judicial factor is a kind of
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87:Ordinamenta et consuetudo maris
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642:Comité Maritime International
608:International Regulations for
564:United Nations Convention on
1204:The History of British India
610:Preventing Collisions at Sea
7:
1229:Galbraith, John S. (1957),
1134:English as a Legal Language
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970:Chief factor for the Dutch
955:Chief factor for the Dutch
629:International organizations
10:
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1171:Elizabeth A. Martin, ed.,
1149:, accessed on 17 July 2024
965:Slave Coast of West Africa
780:British East India Company
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553:Maritime Labour Convention
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1160:Collins Dictionary of Law
1025:(called a pupil) until a
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1173:Oxford Dictionary of Law
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961:Dutch West India Company
802:Dutch East India Company
575:International piracy law
566:the Law of the Sea
1033:), for a person who is
709:in that a factor takes
597:Anti-fouling Convention
1047:Alexander Grant Dallas
959:, for instance of the
785:In North America the
1267:Hudson's Bay Company
1262:Gubernatorial titles
1057:and the Governor of
1055:Hudson's Bay Company
857:improve this section
787:Hudson's Bay Company
522:Vice admiralty court
268:Contract of carriage
71:Corpus Juris Civilis
1132:Christine Rossini,
1031:factor loco tutoris
995:accounts receivable
876:"Factor" agent
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768:Mercantile factors
131:Maritime transport
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1017:appointed by the
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64:Code of Hammurabi
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842:This section
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27:Type of agent
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32:Chief series
18:Chief Factor
1199:Mill, James
1072:Beaver Club
751:known as a
719:consignment
509:Judiciaries
311:Consignment
1277:Agency law
1256:Categories
1120:References
973:opperhoofd
887:newspapers
772:See also:
732:under the
711:possession
695:commission
331:Commercial
306:Chartering
220:Total loss
195:Act of God
167:Cargo ship
1272:Fur trade
1201:(1848) .
1093:Comprador
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917:July 2024
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817:areas of
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479:Principal
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469:Consignee
452:Charterer
337:Pro forma
316:Demurrage
301:Brokerage
252:Smuggling
247:Pollution
205:Collision
1211:13 April
1066:See also
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795:monopoly
707:merchant
568:(UNCLOS)
362:Manifest
355:Maritime
291:Barratry
177:Mortgage
136:Shipping
106:Features
1112:goods".
1051:Rockies
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980:, as a
963:on the
901:scholar
865:removed
850:sources
759:History
753:factory
462:Manager
446:Carrier
409:Parties
401:Waybill
377:Salvage
345:Laytime
326:Invoice
150:Freight
119:Illegal
114:Fishing
78:Digesta
56:History
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807:Dejima
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494:Mutiny
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286:Agency
242:Piracy
1099:Notes
908:JSTOR
894:books
745:facit
717:) on
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417:Agent
389:Terms
237:Drugs
200:Cargo
145:Cargo
140:Ferry
1213:2022
1023:ward
946:Java
880:news
848:any
846:cite
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