Has your organization established formal processes for terminating critical third-party relationships under both normal and adverse circumstances?

Critical relationships with vendors, partners, and service providers require clear termination procedures to minimize security risks when these relationships end. Without proper termination processes, organizations risk data breaches, service disruptions, or compliance violations during transitions. This includes procedures for revoking access rights, retrieving assets, transferring data, and ensuring contractual obligations are fulfilled under both planned and emergency scenarios. Evidence could include documented termination procedures for critical relationships, offboarding checklists specific to third parties, contract clauses addressing termination conditions, and records of previous relationship terminations that demonstrate the process in action.