Organizations that hire third party service providers have certain legal requirements. Third party service providers have certain legal requirements. These legal requirements are not the same. VendorSync views vendor compliance through the legal lens of the hiring client. We collect, verify and maintain those requirements the hiring client is obligated to maintain, based on jurisdiction.
A compulsory trade is a skilled trade that requires government certification of those engaged in the trade. Any one engaging the services of a compulsory trade worker must confirm current licensing before any work begins.
Requirements vary from trade to trade and from region to region. States and provinces are introducing new requirements all of the time. Understand what your requirements are in relation to vendor engagement everywhere you do business or own property.
Request these required licenses, certificates and insurance in writing from every vendor you engage, as part of your daily operations.
Have your vendors upload proof of requested certification and insurance to their own customized Online Compliance Profile.
Our team receives notification of upload and verifies the uploaded document as complete, current and accurate. We then post the certificate as compliant in the vendor profile and the client dashboard.
Vendor certificates are maintained through a system of automated notifications, letting your vendor, as well as you, know when critical licenses or insurance have or are about to expire.
Every notification, every response, every exchange is captured and stored both on our secure servers as well as backed up on Google servers. This creates a vast record of written engagement, thereby helping you attain your reasonable diligence requirements.
Credentialed users can view, print or share vendor licenses, proof of trainings and proof of insurance - from any device, anywhere they have an internet connection.
Your vendors are continually monitored for compliance to your legal requirements. All interactions are digitally stored to provide reasonable diligence.
Most organizations request a vendor provide proof of commercial general liability insurance. Many do not request proof of mandatory licensing that supports the validity of the vendor's insurance.ASSURE YOUR VENDORS REMAIN PROPERLY INSURED.
STOP USING PAPER - Leverage the power of technology to digitally track, store and easily access vendor compliance documentationCompliance is measured through the legal lens of the hiring client - much less onerous on the vendorClient administrators can focus on exceptions, which drives engagementView, print or share vendor certificates from anywhere there is an internet connectionCentralized, consistent review of vendor requirement submissionsLearn compliance obligation per trade and geographyReal-time visibility to compliance status for vendors Collect and verify requirements from vendors
Get your vendor terms and conditions in front of every vendor and have
them accept before engaging for any services.The first step of the VendorSync vendor registration process is presenting the client's engagement agreement with a "click to accept" option to continue.
Vendor non-compliance can have far reaching repercussions, including denial of insurance claims, heavy fines, work-stop orders, as well as severe reputational impacts.Let us help you establish a comprehensive preferred vendor program so you can engage vendors with confidence.Call us and let's get started.