Common use of Controls and Assurance Clause in Contracts

Controls and Assurance. The Recipient’s due diligence undertakings of Delivery Partners must be an ongoing not a one-off activity. A proportionate approach should be applied to the frequency of subsequent due diligence based on the initial assessment (as required by Clause 12.2). Due diligence, including conflicts of interest and financial health checks, shall be reported on and monitored as part of the risk management approach.

Controls and Assurance. The Recipient’s due diligence undertakings of Delivery Partners must be an ongoing not a one-off activity. A proportionate approach should be applied to the frequency of subsequent due diligence based on the initial assessment (as required by Clause 12.2). For longer-term funding relationships (i.e. more than 12-Months) a re-assessment must be completed at least annually. Due diligence, including conflicts of interest and financial health checks, shall be reported on and monitored as part of the risk management approach.