Document background
The Vendor Risk Assessment Form is a critical tool for organizations operating in Saudi Arabia to evaluate and manage risks associated with their vendor relationships. This document becomes necessary when engaging new vendors or conducting periodic assessments of existing vendors, particularly in light of Saudi Arabia's evolving regulatory landscape, including recent data protection laws and cybersecurity requirements. The form encompasses comprehensive evaluation criteria covering financial stability, operational capabilities, compliance status, security controls, and risk management practices. It is designed to ensure compliance with Saudi Arabian regulations while protecting the organization's interests through thorough vendor due diligence. The assessment helps organizations make informed decisions about vendor relationships and implement appropriate risk mitigation measures.
