Counterparty Risk
Vendor & Third-Party Risk Assessment
Assess legal, contractual, compliance, confidentiality and operational exposure arising from vendors, suppliers, consultants, service providers and other counterparties before or during the relationship.
What may be assessed
Entity details, ownership indicators, authorisations, litigation or dispute flags and business continuity concerns.
Scope, service standards, indemnity, liability, termination, audit rights, confidentiality and compliance obligations.
Access to customer, employee, pricing, operational or commercially sensitive information.
Single-vendor dependency, subcontracting, concentration, monitoring and escalation mechanisms.
Assessment process
Identify the vendor, services, dependencies, data access and commercial significance.
Examine contracts, onboarding records, approvals, due diligence and performance concerns.
Classify exposure by legal, financial, operational and information risk.
Recommend contractual, monitoring, reporting and exit protections.
Typical deliverables
Vendor-risk register, contract-gap summary, critical-dependency observations, data-access findings and remediation actions.
Related services
See also Contract Risk Audit and Data Protection & Privacy Risk Audit.
Fastrack Legal Solutions LLP
The scope can be adapted for onboarding, renewal, investigation of an existing concern or portfolio-wide third-party risk review.
General information only; not solicitation or legal advice for any specific matter.