Third party

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

Relating to such a person or entity.

Often 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