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Within the context of a (business) transaction, at least two parties participate. From the perspective of any such party, we need the ability to refer to (any of) the other party/parties.
The term 'peer party' is specifically used in the context of a (business) transaction.
eSSIF-Lab, https://essif-lab.github.io/framework/docs/terms/peer-party, CC BY-SA 4.0; this copy carries the same license. Found through KERISSE. The abstract, the level and the labels on the catalog entry are the KERISuite Knowledge Base's own, CC BY 4.0.