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Meaning of "principal to principal" basis

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(Querist)
27 December 2010 please explain the meaning "transaction should be from principal to principal basis".
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
27 December 2010 MEANS BOTH PARTIES ARE NOT HAVING ANY AGENT RELATIONSHIP BETWEEN THEM THEY BOTH REPRESENT THEM AS A PRINCIPAL

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