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An intermediary (or go-between) is a
third party Third party may refer to: Business * Third-party source, a supplier company not owned by the buyer or seller * Third-party beneficiary, a person who could sue on a contract, despite not being an active party * Third-party insurance, such as a V ...
that offers intermediation services between two parties, which involves conveying messages between principals in a dispute, preventing direct contact and potential escalation of the issue. In law, intermediaries can facilitate communication between a vulnerable witness, defendant and court personnel to acquire valuable evidence, whilst in barter, the intermediary is a person or group who stores valuables in trade until they are needed, parties to the barter or others have space available to take delivery of them and store them, or until other conditions are met. In diplomacy and
international relations International relations (IR), sometimes referred to as international studies and international affairs, is the scientific study of interactions between sovereign states. In a broader sense, it concerns all activities between states—such ...
, an intermediary may convey messages between principals in a dispute, allowing the avoidance of direct principal-to-principal contact. Where the two parties are geographically distant, the process may be termed
shuttle diplomacy In diplomacy and international relations, shuttle diplomacy is the action of an outside party in serving as an intermediary between (or among) principals in a dispute, without direct principal-to-principal contact. Originally and usually, the proc ...
. Where parties do not want formal diplomatic relations, an intermediary state may serve as a protecting power facilitating
diplomacy Diplomacy comprises spoken or written communication by representatives of states (such as leaders and diplomats) intended to influence events in the international system.Ronald Peter Barston, ''Modern diplomacy'', Pearson Education, 2006, p. ...
without diplomatic recognition.


Law

In law, intermediaries can facilitate communication between a vulnerable witness, defendant and court personnel to acquire valuable evidence and to ensure all parties have a fair trial.


Trading

An intermediary acts as a conduit for goods or services offered by a supplier to a consumer. Typically the intermediary offers some added value to the transaction that may not be possible by direct trading. Common usage includes the
insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
and financial services industries where e.g.
mortgage brokers A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, ...
, insurance brokers, and financial advisers offer intermediation services in the supply of financial products such as mortgage loans, insurance, and investment products. In relation to energy supplies, third party intermediaries provide energy-related advice, assistance in purchasing energy and management of energy needs. In barter, the intermediary will store valuables in trade until they are needed, parties to the barter or others can take delivery of them and store them, or until other conditions are met. In a larger sense, an intermediary can be a person or organization who or which facilitates a contract between two other parties. The
internet The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, p ...
is creating opportunities to automate the role of an intermediary in many industries. Trading Intermediaries can be classified as merchant intermediaries or as accountant intermediaries. Bailey and Bakos (1997) analyzed a number of case studies and identified four roles of electronic intermediaries including information aggregating, providing trust, facilitating and matching.BaileyBakos99.pdf
(Spring 2000) from
University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant un ...
.


See also

* Disintermediation *
Innovation intermediary Innovation Intermediaries is a concept in innovation studies to help understand the role of firms, agencies and individuals that facilitate innovation by providing the bridging, brokering, knowledge transfer necessary to bring together the range o ...
*
Internet intermediary Internet intermediary refers to a company that facilitates the use of the Internet. Such companies include internet service providers (ISPs), search engines and social media platforms. Definition According to OECD, and cited by UNESCO, Intern ...
* Non-Registered Intermediary *
Registered Intermediary A Registered Intermediary, in England and Wales, assists in communication between lawyers and vulnerable witnesses in court cases. Many people attending court as victims or witnesses have difficulties understanding the questions that they are ask ...
*
Retail Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...


References

{{reflist Supply chain management