Buyer

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Discussion

A Buyer represents a participant that procures or selects governed functions in the Governed Node Service Market. The Buyer relies on qualification, conformance, non-functional characteristics, evidence obligations, cost information, service-level information, jurisdictional suitability, and provider accountability when selecting a Qualified Service Provider or Qualified Node.

The Buyer does not evaluate every technical, operational, security, portability, maintainability, reliability, residency, sovereignty, evidence, and service-level characteristic from first principles. The Governed Node Service Market provides recognised qualification information that supports procurement and selection decisions.

The Buyer’s primary concerns include trust, suitability for procurement, cost, liability, service quality, and evidence that the selected governed function meets applicable obligations.

Definition

participant that procures or selects governed functions provided by Qualified Service Providers or Qualified Nodes

Source

Financial Systems Archetype, Part 7: Governed Node Service Market

Note

A Buyer differs from an Integrator. A Buyer procures or selects governed functions. An Integrator combines Qualified Nodes, governed functions, interfaces, policies, evidence records, and operational components into a conforming deployment.

A Buyer may also operate as a Qualified Service Provider when it provides governed functions to other participants.

Example

A financial institution selects a Qualified Service Provider to provide sanctions screening for an FX processing flow. The institution reviews the provider’s qualification profile, recognised non-functional characteristics, cost information, service-level information, jurisdictional suitability, and evidence obligations before selection.