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A Vendor Risk Assessment Form helps Danish organizations evaluate and document potential risks when working with new suppliers or service providers. It captures critical details about a vendor's security practices, financial stability, data handling procedures, and compliance with EU GDPR and Danish data protection laws.

Companies use these forms to protect themselves from supply chain disruptions, data breaches, and regulatory violations. The assessment typically covers key areas like IT security, business continuity plans, and subcontractor relationships - all essential under Danish business regulations. By systematically reviewing these risks before signing contracts, organizations create a clear record of their due diligence efforts.

Use a Vendor Risk Assessment Form before entering any new supplier relationship that involves sensitive data handling, critical business operations, or significant financial commitments in Denmark. This evaluation becomes especially important when onboarding technology vendors who will access your systems or process personal data under GDPR requirements.

Complete the assessment during your vendor selection process, but before signing contracts or sharing access credentials. Key triggers include: outsourcing IT services, engaging cloud storage providers, hiring payment processors, or working with vendors who handle confidential customer information. The form helps identify red flags early and ensures compliance with Danish data protection standards.

• Basic Assessment Form: Covers fundamental vendor details, financial stability, and general compliance with Danish business laws - ideal for low-risk suppliers.
• IT Security Assessment Form: Detailed evaluation of data protection measures, cybersecurity controls, and GDPR compliance - essential for technology vendors.
• Critical Supplier Form: Enhanced due diligence focusing on business continuity, operational resilience, and supply chain dependencies.
• Financial Services Vendor Form: Specialized assessment incorporating Danish FSA requirements and financial sector compliance controls.
• Healthcare Provider Assessment: Focused on patient data protection, medical information handling, and healthcare-specific regulatory compliance.

• Procurement Teams: Lead the vendor assessment process and coordinate completion of the risk assessment forms across departments
• Legal Department: Reviews assessment criteria, ensures compliance with Danish regulations, and validates vendor responses
• IT Security Teams: Evaluate technical security controls and data protection measures, especially for GDPR compliance
• Risk Management Officers: Analyze responses and determine overall risk ratings for potential vendors
• Vendor Representatives: Complete sections of the form, provide documentation, and respond to follow-up questions
• Senior Management: Review high-risk assessments and make final approval decisions on vendor relationships

• Vendor Profile: Gather basic company information, business registration details, and key contact information
• Risk Categories: Define critical areas for assessment including data handling, financial stability, and operational dependencies
• Legal Requirements: Review current Danish data protection laws and industry-specific regulations affecting vendor relationships
• Security Standards: Document required certifications, security protocols, and GDPR compliance expectations
• Assessment Criteria: Develop clear scoring metrics and risk thresholds aligned with your organization's risk tolerance
• Review Process: Establish internal approval workflows and documentation requirements for completed assessments

• Vendor Information: Complete legal entity details, Danish CVR number, and authorized representative contacts
• Data Processing Terms: GDPR-compliant clauses specifying data handling, storage locations, and security measures
• Risk Categories: Clear evaluation criteria for financial, operational, and cybersecurity risks
• Compliance Declaration: Vendor's confirmation of adherence to Danish business laws and industry regulations
• Security Controls: Specific technical and organizational measures for data protection
• Incident Response: Procedures for breach notification and crisis management
• Review Rights: Terms allowing periodic assessment and audit of vendor compliance

A Vendor Risk Assessment Form differs significantly from a Vendor Risk Management Policy in both scope and application. While they're related, understanding their distinct roles helps ensure proper risk management in your organization.

• Purpose and Timing: The assessment form is a point-in-time evaluation tool used when onboarding specific vendors, while the management policy sets ongoing rules and procedures for handling all vendor relationships
• Document Scope: Assessment forms capture detailed information about individual vendors' risks and controls, whereas the policy document outlines your organization's overall approach to vendor risk
• Legal Status: The policy serves as an internal governance document, while the assessment form creates a documented due diligence record for regulatory compliance
• Usage Pattern: Forms are completed repeatedly for each vendor evaluation, but the policy is a single, standing document updated periodically to reflect changing requirements