third party

(redirected from third-party payment)
Also found in: Dictionary, Thesaurus, Medical, Legal.

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

Third Party

 

in civil law, a participant in a proceeding who has a legal interest in the outcome of the dispute between the plaintiff and defendant. Soviet law distinguishes two categories of third parties.

The first type of third party makes an independent claim to the subject matter of the dispute. Such a third party may intervene in a case to protect his rights or lawful interest by filing a suit against one or both of the parties, on the same ground of action as the original suit. For example, in a dispute concerning the division of an inheritance among heirs by operation of law, an heir under the will may intervene, filing a suit to have himself recognized as having rights to all or part of the property to be inherited. Such a third party possesses all the rights and duties of the plaintiff and defendant.

The second type of third party does not make an independent claim to the subject matter of the dispute. Such a third party in tervenes in the case on the side of the defendant or plaintiff. The third party may be joined in the case on his own initiative, or he may be brought in on the initiative of the court or by the petition of the plaintiff, defendant, or procurator. For example, in a suit brought by a citizen against a motor vehicle transport organization to receive compensation for damage caused by a motor vehicle, the driver of the vehicle may participate in the case in the capacity of a third party on the side of the defendant. If the claim of the victim against the organization is satisfied, the organization may file an indemnity action against the driver. A third party of this type has most of the rights and duties of a plaintiff or defendant.

third party

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.
References in periodicals archive ?
The evidence indicates that, if the effect of third-party payment had been eliminated, the growth in medical expense would have been much smaller than it actually has been.
Currently, third-party payment enterprises in China show two kinds of development models on the whole.
Rather than unravel this dysfunctional system of third-party payments, American companies have turned to health maintenance organizations, which constrain both doctors and patients to keep costs low.
More acquisitions will happen in third-party payment industry: there are 270 licensed companies in China's third-party payment market -- a relatively saturated state no matter from the regulator's attitude in licensing or from the competition pattern.
After ten years' development, China's third-party payment industry is gradually developing into a mature and growing industry compliance with industry standards.
According to new proposed rules, the maximum transfer via third-party payment accounts would not be allowed to exceed CNY1,000.
The effects of the Bank Secrecy Act on third-party payment processors and their need for adequate and effective Anti-Money Laundering (AML) compliance policies and procedures.
Development history, market scale, market structure and competition pattern of third-party payment industry in China.
From May 2011 when the People's Bank of China issued the first batch of payment licenses to July 2013 when the seventh batch was released, the number of licensed third-party payment firms in China soared to 250, with the type of licenses covering seven leading business systems out and out.
Sun have begun their third-party payment operations, while Chinatrust Bank and Cathay Bank are conducting internal test runs.
Capital One Bank's new service simplifies the third-party payment process by providing automated, processing of all paper and electronic remittances, and provides a centralised location for administrators to obtain details on all payments.