Third-party source

In commerce, a "third-party source" means a supplier (or service provider) who is not directly controlled by either the seller (first party) or the customer/buyer (second party) in a business transaction.[1] The third party is considered independent from the other two, even if hired by them, because not all control is vested in that connection. There can be multiple third-party sources with respect to a given transaction, between the first and second parties. A second-party source would be under direct control of the second party in the transaction.[2]

In Information Technology, a "third-party source" is a supplier of software (or a computer accessory) which is independent of the supplier and customer of the major computer product(s).

There are other uses of the term "third-party source" as well.

See also

References

  1. ↑ "Glossary". Rise Research Institutes of Sweden. Archived from the original on 2009-02-13. Retrieved 2018-07-28.
  2. ↑ "Definition - third party", Yale.edu, 2011, web: YLic, states: "not directly involved in the transaction".
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