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9.7 Outsourcing Agreement

N 35/2018 STA
  1. 9.7.1The Licensed Person must have a Service Level Agreement with the Service Provider for each function to be outsourced;
  2. 9.7.2This agreement must address the issues identified below, at a minimum:
    1. a)Details of functions and activities to be outsourced;
    2. b)Responsibilities, contractual liabilities and obligations of the Service Provider and the Licensed Person;
    3. c)Reporting of issues and escalation mechanism;
    4. d)Mechanisms for monitoring and assessing the performance of the Service Provider;
    5. e)Designated persons for maintaining the relationship between both parties;
    6. f)Confidentiality of customer data and related conditions;
    7. g)Disputes resolution arrangements;
    8. h)Access to information;
    9. i)Business continuity in case the Service Provider temporarily or permanently fails to provide service; and
    10. j)Termination clause.