Vendor & Third-Party Risk template
Assess and manage the compliance and security risks posed by suppliers, partners, and third-party service providers.
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A vendor and third-party risk policy governs how an organisation assesses and manages the risks introduced by suppliers, contractors, and partners. It establishes due diligence, contractual safeguards, and ongoing oversight. Sound management of third parties protects against security, compliance, and operational failures.
Who needs one: Organisations that rely on external suppliers, cloud providers, or outsourced services.
What a strong vendor & third-party risk covers
- Risk-based vendor classification and tiering
- Due diligence and security assessment requirements
- Contractual controls and data protection clauses
- Ongoing monitoring and periodic reassessment
- Subcontractor and supply-chain risk considerations
- Offboarding and secure return or deletion of data
Regulations and frameworks this aligns to
PolicyKit references the standards relevant to your jurisdiction when it generates your vendor & third-party risk.
- ISO/IEC 27001
- The international standard specifying requirements for establishing, maintaining, and continually improving an information security management system.
- NIST Cybersecurity Framework
- A voluntary US framework organising cybersecurity activities into core functions to help organisations manage and reduce cyber risk.
- GDPR
- The EU General Data Protection Regulation, governing how organisations collect, use, and protect personal data of people in the EU.
- UK GDPR
- The retained UK version of the General Data Protection Regulation, governing how organisations process the personal data of people in the UK.
- CCPA
- The California Consumer Privacy Act, granting California residents rights over how businesses collect, share, and use their personal information.
Frequently asked questions
What should a vendor & third-party risk include?
A robust vendor & third-party risk sets out scope, roles and responsibilities, the specific controls or procedures involved, and how compliance is monitored and reviewed, mapped to frameworks like iso-27001, nist-csf, gdpr. PolicyKit structures all of this automatically based on your business.
Is this legal advice?
No. PolicyKit generates AI-assisted professional templates and starting points, not legal advice. Every document should be reviewed with qualified legal and compliance counsel before use.
Can I tailor it to my country?
Yes — PolicyKit tailors each document to your jurisdiction, including UK, EU, United States, Australia, Singapore, Hong Kong and more.
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