TP

TP

1) (1) Third party. Term used in insurance matters (eg motor insurance) when an accident occurs. The insurer (ie the insurance company) is the first party, the insured person/company/organization is the second party and anybody else involved (particularly if they make a claim for loss or damage) is referred to as the third party. (2) Third party (contractors). Distribution/logistics contractors providing either transport and/or warehousing (or both) or a total logistics service on a dedicated basis to retailers, wholesalers or manufacturers.

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.249 (288 p.)