Who is considered an intermediary in secured transactions?

In secured transactions, an intermediary typically refers to an agent or a third party who plays a crucial role in facilitating the transaction and ensuring the security interests are duly maintained. This includes assisting in the creation, perfection, and enforcement of security interests, which can involve actions such as holding collateral, managing documentation, or communicating between the debtor and creditors.

An intermediary can be essential for ensuring compliance with legal requirements, helping to protect the rights of the secured party, and providing necessary information about the secured property. This role is vital in creating trust and reliability in transactions involving multiple parties and complex security interests.

The other options, such as entities that only sell goods or a borrower, do not fit the role of an intermediary in this context. A borrower is more directly involved in the transaction as the party obtaining the loan, while an entity that only sells goods lacks the broader supportive role in managing security interests. A regulatory body focuses on oversight rather than the active facilitation of the secured transactions themselves. Thus, the definition of an intermediary aligns closely with the agent who assists in maintaining security interests.