triparty

Triparty is a term used to describe arrangements, bodies, or negotiations that involve three distinct parties. It is commonly treated as a variant of the adjective tripartite, sharing the same Latin roots: tres (three) and partes (parts). In practice, triparty refers to any three-party framework rather than a specific institution.

In labor and industrial relations, triparty arrangements typically include representatives from government, employers, and workers. These tripartite bodies or agreements are used to set standards, wages, or labor policies through social dialogue and consensus among the three groups. Many countries maintain tripartite councils or commissions to coordinate labor law and economic policy.

In international governance and development, tripartite mechanisms are often associated with the International Labour Organization, which operates through a tripartite structure that includes government ministries, employers’ organizations, and workers’ unions. Tripartite consultations are used to discuss and negotiate social and economic issues at national and international levels.

In finance, the term appears in tri-party or triparty arrangements, especially in collateralized lending and repurchase agreements. Here, three parties normally participate: the cash borrower, the lender, and a custodian or agent who administers collateral and settlement. While “tri-party” is more commonly used in finance, some writings refer to these setups as triparty.

Overall, triparty denotes collaboration or governance involving three distinct stakeholders across diverse fields.