How well do you know your vendor

When you contract with a third party you become responsible for any risk posed by their activities. Therefore, the first step in every new relationship should be to do the necessary background checks and research to know your vendor, ensure they meet regulatory requirements and are protecting your most valuable asset, your reputation. 

You should be vetting a vendor regardless of risk level because inherent risk (the initial risk impression) is never equivalent to zero. A reputational risk is posed whether it’s a critical technology vendor or a non-critical vendor. Having no due diligence on file during the vetting process is very risky and probably won’t pass muster with your regulator. 

How We Help

Collecting, reviewing and preparing all the right preliminary information needed to vet your vendor can be time-consuming and take you away from more strategic decisions.

With Venminder, our team of due diligence experts will do all the research and collect the appropriate documentation, either through public resources or from the vendor directly, so that you can properly evaluate a potential, or even current, vendor. 

Not All Vendors Are Equal: Venminder’s experts have determined that Closing Agents require specific oversight and research before signing the contract; therefore, we offer a separate Closing Agent Vendor Vetting Package option.