Initial Vetting Package of a Third Party

Understand what key information is accurate and current on your vendor.

When you contract with a third party, you become responsible for any risk posed by their activities. Therefore, the first step in every new relationship should be to do the necessary background checks and research to know your vendor, ensure they meet regulatory requirements and are protecting your most valuable asset, your reputation. Go into the vendor relationship with the best outlook as possible. Venminder will research, collect, review and verify your vendor's key information and that it's all accurate and up to date. We provide a comprehensive package with a summarization of findings.

• A comprehensive package to put on file when vetting a vendor: This easy-to-read report serves as your vendor background check, so if there are any skeletons in your vendor’s closet, we can help you find them.
• Improve your efficiency and reduce the workload: We collect the paperwork and you’ll receive a concise summary for each package item confirming whether the information was: satisfactory, of concern and needs further investigation, either unavailable or could not be verified.
• Start your vendor relationship off confident: Know that the vendor has the necessary preliminary qualification before selecting or signing a contract (or deciding to continue business with them).

Included in the Package

• A Secretary of State check Complaint research
• OFAC check
• A D&B report for credit, trade and payment history data
• Tax ID #
• Articles of Incorporation/business license verification
• Negative news search