An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as

An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as a "factor." In other words, a factor acts as an intermediary between the seller and the buyer, taking possession of the goods and selling them on behalf of the seller. However, unlike a del credere agent, a factor does not guarantee payment from the buyer. Instead, the factor assumes no responsibility for the buyer's payment and simply receives a commission for selling the goods on behalf of the seller. Factors are commonly used in the textile, agriculture, and manufacturing industries.