Credit Monitoring Requirements Clause Samples
The Credit Monitoring Requirements clause establishes the obligation for a party, typically a service provider or data handler, to implement and maintain systems that monitor the credit status or credit-related activities of individuals or entities. In practice, this may involve providing credit monitoring services to affected individuals in the event of a data breach, or regularly reviewing credit reports to detect signs of identity theft or fraud. The core function of this clause is to protect individuals from potential financial harm by ensuring timely detection and response to unauthorized credit activity, thereby mitigating the risks associated with compromised personal or financial information.
Credit Monitoring Requirements. In the event that a sensitive information incident involves PII or SPII, the Contractor may be required to, as directed by the Contracting Officer:
(1) Provide notification to affected individuals as described above; and/or
(2) Provide credit monitoring services to individuals whose data was under the control of the Contractor or resided in the Contractor IT system at the time of the sensitive information incident for a period beginning the date of the incident and extending not less than 18 months from the date the individual is notified. Credit monitoring services shall be provided from a company with which the Contractor has no affiliation. At a minimum, credit monitoring services shall include:
(i) Triple credit bureau monitoring;
(ii) Daily customer service;
(iii) Alerts provided to the individual for changes and fraud; and
(iv) Assistance to the individual with enrollment in the services and the use of fraud alerts; and/or
(3) Establish a dedicated call center. Call center services shall include:
(i) A dedicated telephone number to contact customer service within a fixed period;
(ii) Information necessary for registrants/enrollees to access credit reports and credit scores;
(iii) Weekly reports on call center volume, issue escalation (i.e., those calls that cannot be handled by call center staff and must be resolved by call center management or DHS, as appropriate), and other key metrics;
(iv) Escalation of calls that cannot be handled by call center staff to call center management or DHS, as appropriate;
(v) Customized FAQs, approved in writing by the Contracting Officer in coordination with the Headquarters or Component Chief Privacy Officer; and
(vi) Information for registrants to contact customer service representatives and fraud resolution representatives for credit monitoring assistance.
Credit Monitoring Requirements. In the event that a sensitive information incident involves PII or SPII, the Contractor may be required to, as directed by the Contracting Officer:
(1) Provide notification to affected individuals as described above; and/or
(2) Provide credit monitoring services to individuals whose data was under the control of the Contractor or resided in the Contractor IT system at the time of the sensitive information incident for a period beginning the date of the incident and extending not less than 18 months from the date the individual is notified. Credit monitoring services shall be provided from a company with which the Contractor has no affiliation. At a minimum, credit monitoring services shall include:
(i) Triple credit bureau monitoring;
Credit Monitoring Requirements. In the event that a sensitive information incident involves PII or SPII, the OTA Entity may be required to, as directed by the Contracting Officer: