Del Credere Agent Law and Legal Definition

A del credere is an agent who guarantees the solvency of third parties with whom the agent contracts on behalf of the principal. As a token for the guaranty given, the agent receives an additional commission for sales. The promise of such an agent is almost universally held not to be within the statute of frauds. Such an agent assumes the position of a surety who is liable to his principal if the vendee make default. Such agents are commonly referred to in English law. They are also known as del credere factor.