Negotiating Vendor Contracts: Key Provisions, Market Terms & Due Diligence
Failure to manage third-party compliance can lead to legal penalties, data breaches, operational disruptions, and reputational damage. The first line of defense is your vendor contract. Join this webinar to get contract, negotiation, and risk-mitigation recommendations from a legal expert!
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand regulator expectations for contracting with vendors and third-party service providers
- Create a request for proposal (RFP) to send to vendors
- Define the service-level agreements applicable to technology-related vendors and how to negotiate these agreements
- Explain the key provisions that should be in every vendor contract
- Identify how to control related risks, including subcontractors and fourth parties
WEBINAR DETAILS
Understanding the regulatory standards related to vendor relationships and contracts is critical when negotiating contracts with third-party service providers. Financial institutions are held accountable not only for their own operations, but also for the actions and controls of their vendors – especially those handling sensitive data, accountholder interactions, or core banking functions. This webinar will cover key contract provisions and negotiating strategies to protect against regulatory violations, data breaches, downtime, etc. It will also address how to prepare a request for proposal (RFP) that can be used when seeking new services from a third party.
WHO SHOULD ATTEND?
This informative session is designed for personnel involved with vendor contracts and relationships, such as attorneys, auditors, managers, and compliance officers.
