From the course: Cybersecurity Outsourcing: Vendor Selection and Management

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How to renew the agreement

How to renew the agreement

From the course: Cybersecurity Outsourcing: Vendor Selection and Management

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How to renew the agreement

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- [Instructor] Contract renewal is a time when you have a strong position in the relationship with your MSSP. You have the power to continue the work, stop the work, or renegotiate the terms of the agreement. In this video, I'll review the major milestones to renew the contract. Please remember that I'm not an attorney and this is not legal advice. Rather, I'm sharing with you my past experiences to help orient you to contract renewal, and one of my lessons learned is do not negotiate a contract without the advice of an experienced lawyer or contracts manager. If you've done a good job negotiating the contract during the initial purchase, and if you've been watching the SLA numbers closely, then the renewal should be straightforward. Here are the steps to follow. First, at least 60 days before the expiration of the contract, make the key decision. Will the MSSP continue to do the work that you delegated to them? If so, do you need to make any changes to the contract? You might need…

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