There is always a certain level of risk whenever a vendor is hired to provide certain service and it is very important to assess the level of risk involved. Thus, a vendor risk survey helps to assess such risk by asking a set of question on the capabilities of the vendor.
Sample Vendor Risk Survey
1. Do you have any idea about the sustainability of the vendor?
a) Yes, the vendor is sustainable in the long run
b) No, no idea about the sustainability of the vendor
2. Do you agree that there will be complete data privacy even after hiring this vendor and the data won’t be leaked out to other sources?
a) Strongly agree
c) Some what agree
3. Do you feel that there are chances of breach of contract by the vendor?
a) No, not at all
b) Yes, there can be chances
c) Can’t say
4. Are there any chances of the vendor getting involved in bribery or corruption or do they have any such history?
5. What according to you is the biggest risk of hiring a vendor?
6. In case if you have any other doubt or apprehensions about the vendor then please mention?