Contract Management

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About Vendor Contract Management: Vendor contract management is the oversight of written agreements with vendors that provide your organization with outsourced products or services. Proper contract management is important because if a vendor contract is signed that doesn’t include all vendor expectations, outline service levels, or identify ongoing due diligence requests, then these expectations may not happen.

Latest Discussion Posts

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    RE: BC/DR Contractual Remedies

    By: Lisa Brady , 22 days ago

    Hi, That's tough if you already have the requirement in your contract, but they just dont comply. Do you know why they do not test their DR plans? One measure you could look to add to the contract, is the requirement to allow your firm to participate ... More

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    BC/DR Contractual Remedies

    By: Anonymous Member , 23 days ago

    This message was posted by a user wishing to remain anonymous Hi everyone! I was just wondering what you all were doing as far as contractual remedies when a third-party doesn't meet the BC/DR standards that were agreed to? For example, they don't ... More

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    RE: Vendor policies and procedures

    By: Hilary Jewhurst , Venminder , one month ago

    Advance payments or prepayments shall be avoided whenever possible. Best practices suggest that goods and services should not be paid for until they have been received in good condition or performed satisfactorily. Still, it may be necessary to make an ... More

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    RE: What techniques, tools, and tech were used for the KPI/KRI's there

    By: Hilary Jewhurst , Venminder , one month ago

    Hi Wesley, I hope I understand your question correctly. If not, please let me know. When developing KRIs and KPIs for your Third-party risk management program, it's important to start with the organization's objectives for having the program in the ... More

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    Vendor policies and procedures

    By: Anonymous Member , one month ago

    This message was posted by a user wishing to remain anonymous Hi folks, I am planning on working on a policy regarding advance payments to small vendors for initial contract expenses, but I would like to have some sort of policy that would make them ... More

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