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third party |
Also found in: Dictionary/thesaurus, Medical, Legal, Wikipedia | 0.03 sec. |
third partyA separate individual or organization other than the two principals involved. A third party is typically a company that provides an auxiliary product not supplied by the primary manufacturer to the end user (the two principals). Countless third-party add-on and plug-in products keep the computer industry advancing at a rapid pace. The third-party vendor is often the most innovative. third party a person who is involved by chance or only incidentally in a legal proceeding, agreement, or other transaction, esp one against whom a defendant claims indemnity How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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2005-74 provided guidance on whether to treat such transactions as (1) a single sale of the residence from the employee to a third-party buyer or (2) two separate sales transactions--a sale of the residence to an RSC (acting as the employer's agent) and a sale by the RSC to a third party. Scores of real estate companies provide third-party leasing and management, an arrangement in which property owners hire a firm to manage their properties and provide exclusive leasing services. Many also honor requests for repayment to third-party collection agents acting on a vendor's behalf. |
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