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third party |
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A 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. |
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? Mentioned in | ? References in periodicals archive | |
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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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