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Requesting Financial Health of a Private Vendor
Many organizations must work with privately held vendors to meet an operational need. As organizations seek or have these relationships, there are some unique challenges when it comes to assessing a private vendor’s financial health. Unlike publicly traded vendors that are obligated to release their financial documents to regulatory agencies to be listed on stock exchanges, private vendors don’t have this requirement. Therefore, they can sometimes be reluctant to disclose information during the due diligence process.