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Vendor prerequisites

Question: 
What if a prospective vendor refuses to give us the information we require?
Answer: 

Just do not use them and move on. As a training vendor, I am often asked to provide insurance, workman’s compensation and confidentiality agreements. A training company is a very low risk vendor but I am on premise and I do have conversations about private matters about customers and procedures of the financial institution. These are minimum requirements for many vendors. If not met, the vendor should be declined.

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Learn more about Deborah’s webinar Vendor Management Strategies

First published on 08/07/2016

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