Vendor Review Checklist

VENDOR REVIEW CHECKLIST

This Vendor Review Checklist and Agreement is entered into by and between Client Name: and Vendor Name: . Review Date:

WHEREAS

WHEREAS, Client requires procurement and oversight of third-party goods or services and seeks to document a formal review of Vendor's qualifications, capabilities, and compliance with applicable commercial and regulatory requirements; and

WHEREAS, Vendor represents that it possesses the qualifications, financial capacity, and controls necessary to perform the identified scope of work and consents to the review and acceptance conditions set forth in this Checklist and Agreement.

NOW, THEREFORE, the parties document the results of the vendor review, the required mitigations, and the binding terms applicable to engagements that proceed following acceptance.

Vendor Information

Scope of Work

The parties describe the services or deliverables under review below. The description shall form the operative scope to be used for performance, acceptance, and any payment terms set forth herein.

Documentation & Compliance Checklist

Indicate whether the listed documents were provided and the date received. If conditional, describe mitigation in comments.

Risk Assessment & Controls

Provide an overall risk rating and the principal controls that will mitigate identified risks. The reviewer must document specific remediation steps for ratings of 3 or higher on a 1 (low) to 5 (high) scale.

Payment Terms

Parties acknowledge and record the payment mechanics that will apply to any engagement executed following acceptance of this review.

Term and Termination

The parties agree that engagement terms shall be governed by the following start, end, and termination notice provisions unless a separate executed agreement modifies these terms in writing.

Confidentiality

Each party shall maintain the confidentiality of information designated as confidential and shall not disclose such information except to personnel with a need to know or as required by law. Confidential information does not include information that is publicly available without breach of this Agreement, already lawfully in a recipient's possession, or independently developed without use of the other party's confidential information. The obligations in this paragraph survive termination of any subsequent procurement agreement for a period of three (3) years unless otherwise agreed in writing.

Governing Law; Entire Agreement

Governing law: The interpretation and enforcement of any binding agreement executed following this review shall be governed by the laws of the State of without regard to conflict-of-law principles.

Entire agreement: This Checklist, together with any executed procurement agreement signed after acceptance, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations, and agreements, whether written or oral, relating to that subject matter.

Findings & Recommendations

Summary decision and required conditions for approval. The reviewer must identify any material conditions that must be satisfied prior to authorizing contract execution or release of purchase orders.

Reviewer Certification

I certify that the information provided in this Vendor Review Checklist is true and accurate to the best of my knowledge; that required documents were inspected as indicated; and that any conditions listed above shall be satisfied prior to entering into any binding procurement agreement.

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