Managing third party vendor relationships has always been an important function in banks. More recently it has become a hot topic for state and federal financial bank regulators.
As a result, we have compiled our Seven Part Guide on reviewing third party vendor service contracts into one article. A checklist for reviewing third party vendor contracts is included in the article, and also available separately.
The analysis covers typical elements that should be found in any third party vendor contract, including provisions on the nature of services to be provided, the location where the word is to be performed, breach and termination, as well as provisions related to the potential outbreak of zombies.