A broker is an intermediary in a transaction between buyer and seller. Whereas an agent normally acts on behalf of one of the parties, the broker is usually independent. Brokers are common in markets that require particular expertise and where small buyers wish to leverage the scale of an intermediary. Examples might include an insurance broker, a stockbroker or a shipbroker.

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Discover the world’s largest Glossary of Procurement terms

With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.