intermediary

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Intermediary

Intermediation

A situation in which a financial institution stands between counterparties in a transaction. For example, in the sale of a house, a bank usually serves as a financial intermediary by providing a mortgage to the buyer to pay the seller. In some non-traditional transactions, a bank may buy a product (e.g. corn) and immediately re-sell it for a profit to a third party. Most transactions requiring a loan to one of the parties include intermediation. See also: Murabaha.

intermediary

References in periodicals archive ?
the clubs shall not make player transfer payments or loan payments via the intermediaries or to them and must not ask that payments relating to players are made to the intermediary.
The potential pitfalls of digital intermediaries emphasize the need for strong perimeter departments.
"The Future of Travel Intermediaries in Turkey to 2020" is the result of extensive research on the travel and tourism industry covering the travel intermediaries market in Turkey.
The Mortgage Credit Directive pays particular attention to mortgage credit intermediaries and advisors, whose activities within the existing regulations of the Member States were governed by national legislation in a different manner, and in a significant number of states they were not regulated and supervised at all.
Perhaps the most frequent claims asserted by third-party non-clients against insurance intermediaries are those brought by parties who have been harmed by some wrongful act of an insured.
Intermediaries are using these tools to assist with their suitability and Know Your Customer (KYC) obligations.
* The services delivered by intermediaries usually provide positive benefits to users.
"The Insurance Amendment Act, 2018 says intermediaries should not touch or smell any premium from policyholders.
The proposed Accountability Mechanism Framework requires financial intermediaries to provide an independent and effective forum for people who are adversely affected directly or likely to be affected by investments financed by the financial intermediary so that they can voice their concerns and seek solutions to their concerns or grievances.
Further, the intermediaries shall also ensure that the client is not placed on the United Nations Security Council's (UNSC) list of designated persons or entities linked to terrorist financing or against whom a ban, sanction or embargo subsists.
The intermediaries delay the payments for the premium thereby putting the insured at risk.
Cincinnati Intermediaries places insurance on a wholesale basis with nearly 50 insurance carriers.