Third party

1. Law - contract - legal proceedings - agreements - other arrangements - noun.

A person or other entity not directly involved in a contract, transaction or legal proceedings.

2. Other situations - noun.

Any person, group, organisation or other entity not primarily involved in a situation between two other people, groups, organisations or other entities.

3. Law - contract - legal proceedings - agreements - other arrangements - other situations - adjective.

Relating to such a person or entity.

Usually written third-party.

For example, KY3P refers to knowledge and understanding of third-party risk in relation to transactions.

Third parties would include, for example, suppliers as well as customers.

See also

• Contract
• Duty of care
• Ethics
• KY3P
• Law
• Multibank reporting
• Party
• Principal
• Related party
• Third party provider
• Third-party risk
• Unrelated party