The following Practice Compliance guidance note provides comprehensive and up to date legal information covering:
Due diligence is the name given to the process through which the factual and legal background to a transaction is collated and assessed. Due diligence should be a two-way process with the supplier assessing your proposed outsourcing project and you assessing the supplier’s ability to provide the services.
Due diligence is one of the key foundations on which the outsourcing deal will be built. From your perspective, due diligence on your supplier is essential. Of equal importance is internal due diligence, ie collating information on your proposed project to structure your request for proposal documentation and realistically assess supplier proposals.
Where only limited due diligence is possible, both you and your proposed supplier should look to address the impact of this in your contract; lack of information at the outset of the deal is likely to increase the possibility of issues arising during the term of the outsourcing agreement.
One of the most common reasons that outsourcing projects fail is a mismatch of expectations between what each party thinks
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