5

I know there is a word for this!

Person A is a seller. Person B is a buyer.

Person A is worried Person B will take the her product and not pay. Person B is worried of the inverse.

These two hire an unbiased Person C to mediate the transaction by taking the money from Person B and products from Person A and only releasing either item when both items are held by him.

Many words that seem like they would work, such as mediator, seem to be very general: "to make people involved in a conflict come to an agreement."

I am hoping there is a more specific term for this situation.

| improve this question | |
  • Intermediary? – J.R. Oct 8 '13 at 2:30
  • @cbronson Just to clarify, are you looking for a word for the middleman, the circumstance, or the transaction? – user867 Oct 8 '13 at 3:14
  • Sorry I wasn't home and couldn't answer! I am looking for the word for the middleman – cbronson Oct 8 '13 at 4:24
12

The closest I can think of is escrow. It refers to giving money to a trusted third party, who holds it (in escrow) until goods or services are delivered. I have never heard it applied to holding goods as well, but see no reason why it shouldn’t be.

| improve this answer | |
  • 1
    +1 The person who holds the money or goods in escrow is called an escrow agent. Documents and things are routinely held in escrow. – bib Oct 8 '13 at 3:33
  • Generally courts and governments act as person C during property disputes. Escrow comes close but I am not sure an Escrow Agent is also the one that brokers/negotiates peace between two disputed parties. – user52023 Oct 8 '13 at 3:48
  • Internet Escrow is the exact word that I was looking for, thanks for this! – cbronson Oct 8 '13 at 4:30
4

I think the word you are looking for is "broker."

Wikipedia: A broker is an individual or party (brokerage firm) that arranges transactions between a buyer and a seller for a commission when the deal is executed.

It can be both a noun and a verb.

Broker - noun - a person who buys and sells goods or assets for others.

verb - arrange or negotiate (a settlement, deal, or plan)

| improve this answer | |
  • A broker is someone who brings about a transaction (she usually either brings a party or an asset to the deal or puts parties in touch with another party or asset provider). The OP is looking for a post-deal escrow agent. The broader term honest broker is sometimes used to characterize an uninterested party in general, but in this case, not appropriate. – bib Oct 8 '13 at 3:36
1

A newer variant could be "middleman". It is used in many virtual trades where A wants to pay in real money for B's virtual item (game / game time / cosmetic items, whatever) but of course no one wants to send their items first, then they ask a reputable middleman to hold both items and then trade with both of them.

| improve this answer | |

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.