Do you have vendors that you’d categorize as naughty around this time of year? Don’t worry, we’ll cover ways to handle them.
Let’s face it – a very difficult part of vendor risk management, particularly in mid-sized organizations, is usually the vendor contract management process. Why exactly is that? Well, unless you [...]
A contract is an agreement between two parties creating a legal obligation for your organization and vendor to perform specific acts. Each of the parties to the [...]
I’m often asked about termination clauses in contracts. Unfortunately, if you’re in the middle of an existing contract and decide you “want out”, your options may be limited, depending on how much [...]
As a professional in third party risk management, you probably hear the term service level agreement or SLA for short. Make sure you understand what they are. To help, we'll go through a few basic [...]
For the non-bank lender, the process of vendor oversight begins prior to establishing an annual audit schedule. And like any good process, it begins well at the beginning - the contract. [...]
There are times when even the best of relationships fall apart. But, there's also usually plenty of early warning signs. So, let's look at a few of them related to your vendors – these are just a [...]
Whether reviewing a new critical vendor contract or negotiating new terms and conditions of an existing one, there are many elements you need to consider.
No serious cyclist would ever dream of riding their bicycle without wearing a helmet. Personally, having been hit by a car twice while cycling, I probably should wear a helmet every time I talk [...]
Of all of the areas of third party risk management, perhaps the most difficult is handling contracts effectively. Whether it’s negotiating, tracking or simply finding all of them, contracts can be [...]