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NYSID TIP Training

Training & Information Program (TIP)


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Contractual Risk Transfer (CRT) – What you need to know when hiring third party vendors

Wed
10/19
2022

Date: Wednesday, 10/19/2022
Time: 12:30pm

Region: All
Location: Rivers Casino & Resort- Schenectady , , , NY

Event Status: Open

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Presenter:

Who Should Attend:

This seminar is appropriate for Executive Directors, upper level management who negotiate third party vendor contracts.

Session Objective:

When hiring third party contractors, does it often seem as if as the vendor’s liability is too severely limited? With respect to contractual risk transfer, you could be right. Your organization should be setting the rules of engagement, not the contractor. This seminar will cover: 

  1. The importance of  CRT in contracts  
  2. What to look for when reading a vendor’s proposed contract, including:
    1. insurance requirements and Additional Insured status
    2. language limiting liability
    3. indemnification provisions
  1. Sample CRT language (subject to review by your counsel)
  2. The down side in a loss without CRT