A third party is a person or entity who instructs you or the entity you represent to conduct an activity or financial transaction on their behalf. It is not about who owns or benefits from the money, or who is carrying out the transaction or activity, but rather about who gives the instructions to handle the money or conduct a transaction or particular activity. If you are acting on someone else’s instructions, that someone else is the third party.

When you are acting on behalf of your employer, your employer is considered to be the third party.