What must agents maintain to fulfill their obligations in Maryland?

Agents in Maryland are required to maintain both confidentiality and clear communication to fulfill their obligations effectively. This dual responsibility is crucial for building trust and ensuring that the agent represents their principal's best interests.

Maintaining confidentiality is essential because agents are often privy to sensitive information regarding their principal's affairs. This obligation includes safeguarding personal details and any proprietary business information, which, if disclosed, could compromise the principal's position or opportunities.

Clear communication is equally vital as it ensures that the principal is well-informed about matters affecting their interests. This includes keeping the principal updated on relevant developments, potential decisions, and any issues that arise during the agent's representation. Effective communication helps facilitate a strong working relationship, enabling the principal to make informed choices based on the agent's insights and advice.

By adhering to both of these obligations, agents uphold their duty to act in the best interests of their principals, thereby fulfilling their fiduciary responsibilities within the parameters set by Maryland law.