Below are the details of the operational risks covered within this selected sub-risk category:
Vendors unable to deliver products/services covered by their contracts
If vendors are unable to deliver products/services covered by their contracts, then this may result in business disruption or unplanned costs for the firm. Examples of such risk include:-
Vendors breach legal or regulatory obligations, where such a breach may impact the firm or one of it's stakeholders
If vendors breach legal or regulatory obligations, where such breach may impact the firm or one of it's stakeholders, then this may result in business disruption or unplanned costs for the firm. Examples of such breach may include: -
Dealing with vendors operating from geographic locations generally considered as high risk locations
Dealing with vendors operating from geographic locations, generally considered as high risk locations, may result in business disruption or unplanned costs for the firm. Examples of factors for high risk may include: -
Damaging or unfair actions taken by vendors against the firm
Damaging or unfair actions taken by vendors against the firm may result in business disruption and unplanned costs for the firm. Examples of such action include: -