9.7 Outsourcing Agreement
N 35/2018 STA - 9.7.1The Licensed Person must have a Service Level Agreement with the Service Provider for each function to be outsourced;
- 9.7.2This agreement must address the issues identified below, at a minimum:
- a)Details of functions and activities to be outsourced;
- b)Responsibilities, contractual liabilities and obligations of the Service Provider and the Licensed Person;
- c)Reporting of issues and escalation mechanism;
- d)Mechanisms for monitoring and assessing the performance of the Service Provider;
- e)Designated persons for maintaining the relationship between both parties;
- f)Confidentiality of customer data and related conditions;
- g)Disputes resolution arrangements;
- h)Access to information;
- i)Business continuity in case the Service Provider temporarily or permanently fails to provide service; and
- j)Termination clause.
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