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Related to intermediary: Qualified intermediary



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.


References in periodicals archive ?
Now, anyone who can come up with the PS250 registration fee and PS250 per year can become an intermediary.
Even though no formal qualification is now required for an individual to be an intermediary, there are still minimum conditions in force which need to be met before an intermediary can be registered in the UAE and registration would still be subject to the UAE FA's approval.
In addition to asserting status as a third-party beneficiary, non-clients often assert claims sounding in negligence by arguing that the intermediary directly owed them duties, but breached them.
Principle 2 - An intermediary should provide a statement to each client on a regular basis detailing the client assets held for or on behalf of such client.
Martin Berkeley, also a director of intermediary sales, added: "Reform of financial services, most notably through the retail distribution review, will make it harder for many intermediaries to offer independent investment advice.
Qualified intermediary pool--Payments made by a qualified intermediary directly to beneficial owners may generally be reported on the basis of reporting pools.
The group said that under the new restructured intermediary sales team, Abbey for Intermediaries and A&L Intermediary sales will combine into a single intermediary division.
In this undifferentiated environment, an intermediary can provide the added value needed to represent the borrower's best interests.
Recently, the information intermediary has been discussed in the context of the Internet as an information gathering and sorting tool (Caillaud and Jullien 2001; Waldfogel and Chen 2003).
After that exchange, the intermediary, which now owns the relinquished property, transfers the relinquished replacement property to the exchange accommodation title holder (EAT).
Even if human assistance is no longer being sought by many users, librarians need to understand what, if anything, a human intermediary or reference librarian contributes to the information search process, which of these contributions can be captured in system design, and which must remain an individualized human process.
Intermediary risk is important not only because it affects individual investors but also because it can be systemic.