Abstract: A novel hydroxyalkyldithiocarbamate borate ester compound is presented according to the formula: where R=alkyl C1 to C25; R?=H or CO2R; R?=(CH2)mOH where m=1 to 8, or alkyl C1 to C25; n=1 to 8. The borate ester compound is prepared by reacting boric acid with a novel hydroxyalkyldithiocarbamate ester compound according to the formula, and optionally with an alcohol: where R, R?, R? and n are as above. The hydroxyalkyldithiocarbamate ester is prepared by reacting a hydroxyalkylamine with CS2, and an acrylate or maleate compound. A lubricating composition is based on a major amount of lubricating oil and a minor amount of the hydroxyalkyldithiocarbamate borate ester.