Milliliði

Milliliði is an intermediary role in Icelandic commerce and law, referring to a person or organization that facilitates a transaction between two or more parties. A milliliði connects buyers and sellers, clients and service providers, or lenders and borrowers, often providing information, matchmaking, and negotiation support. In a typical arrangement, the intermediary does not take ownership of the goods or funds and the contract is formed directly between the principal parties.

Functions include identifying potential counter-parties, verifying information, negotiating terms, coordinating logistics, and handling documentation or payments. By reducing search costs and mitigating information asymmetry, a milliliði can increase the likelihood of a transaction; however, this role may add fees and create potential conflicts of interest if the intermediary's incentives are not aligned with the principals.

Common examples are real estate brokers, insurance agents, financial brokers, procurement intermediaries, and international trade agents. Digital platforms that host listings and mediate payments also function as milliliðir, acting as go-betweens while different sellers or providers compete for customers.

Regulation varies by jurisdiction and sector. Some intermediaries require licensing or registration; they may be subject to consumer protection, privacy, and anti-money laundering rules. Ethical practice emphasizes transparency about fees and conflicts of interest, impartial guidance, and acting in the best interests of clients when fiduciary duties apply.

See also: broker, intermediary, agent, go-between.