Get Outsourcing Due Diligence Form Type Of Service To... - Nscp

This guide provides a clear and structured approach to completing the Outsourcing Due Diligence Form. By following these steps, users can systematically provide the necessary information to ensure a thorough assessment of the outsourcing process.

Follow the steps to fill out the form effectively.

1. Click the ‘Get Form’ button to obtain the form and open it in your browser.
2. Begin filling out the 'Type of service to be outsourced' section. Specify the relevant services such as accounting, compliance consulting, legal services, administrative functions, information technology, and operations/support functions. If the service is not listed, use the 'Other' field to describe it.
3. Answer the question regarding whether the service is essential to the operation of the Firm by selecting 'Yes' or 'No'.
4. In the 'Appropriateness of Outsourcing' section, evaluate the potential impact on the Firm if the service provider fails to perform. Fill out each category regarding impact on finances, reputation, operations, customer service, potential losses, and compliance with regulatory requirements. Use the 'High', 'Medium', 'Low', or 'N/A' options for each category.
5. Next, indicate whether there is any affiliation or relationship between the Firm and the service provider. If applicable, provide details of the relationship in the space provided.
6. Complete the 'Service Provider Information' section by entering the firm name, address, contact details, and any applicable information regarding ownership or control by a parent company.
7. Provide the details regarding the service provider's personnel and background information, including how long they have been in business and any contacts within the Firm who are familiar with the service provider.
8. Evaluate the due diligence methods used to verify the service provider's information and document whether the Firm maintains evidence of these verification methods.
9. Complete the 'Contracts and Agreements' section by indicating if there is a written agreement with the service provider and the relevant provisions included in that agreement.
10. Finally, save changes, download the completed form, print it for your records, or share it with the necessary parties.

Start filling out your Outsourcing Due Diligence Form online to streamline your assessment process.