• Vendor and third party contracting raise a number of unique and often difficult legal, compliance, and risk management issues. The general problems are exacerbated by the sheer volume of vendor and third party contracts that company enter into each year.
• The increased importance of supply chain risk management have also brought vendor and third-party risk management to the foreground.
• The Pre-Contracting Phase
• Explain the pre-contracting search and vetting to identify the right vendor (or if one is a vendor, the right counter-party) for a vendor or outsourcing contract
• Explain the basic principles of third party and vendor risk management.
• Understand the differences between various types of vendor contracts and the legal requirements associated with transactions with government entities.
• Explain the difference between micro and macro vendors.
• Apply the pre-transaction legal risk management analysis to a specific representative fact pattern.