and Privacy questions and answers
1—Pre Contract Assumptions✔✔- assumption that a contract will be used for most
vendors
- Both parties is subject varying laws and regulations
- each must live up to legal mandates
- SOX, GLB, FTC Red Flags may apply
Mutual Understanding✔✔enhance understanding, which
supports a successful business relationship
What is Privacy?✔✔The framework we work under.
What do laws and regulations do?✔✔Tell us what we must protect.
What is usually the focus of a contract?✔✔Security measure since they support
privacy
What is the difference in Privacy and Security?✔✔Privacy tells us "what" to protect
and security "how" to protect it
Do all Privacy requirements have a security solution?✔✔No, example: Minimum
Necessary
What does a gap is security equal?✔✔increased Risk
What does the contract language do for Privacy?✔✔express our expectations of
vendors
and the possible impact to our privacy program
To make a contract less complex how can it be structured?✔✔separated into two
parts
- The first part is referred to as the boilerplate
- Second part contains any specifics that must be accounted for
What is a boiler plate of a contract?✔✔part of the contract that has standard clauses
that define all contractual
relationships.
What are some of the section in a boilerplate?✔✔- indemnity clauses
- insurance requirements
- term and termination
- anything that would be considered a minimum standard in all contracts
What must you do when using a boilerplate?✔✔ensure