Vendors are favorite targets of hackers, and they pose unique regulatory and civil litigation risks. In this first installment of our coverage of a recent seminar sponsored by Strafford CLE Webinars featuring Davis Polk attorneys, we detail the current risk environment, provide guidance on vendor risk assessment and due diligence, and discuss underlying considerations when negotiating vendor agreements. In the second part, we will address critical data privacy and data security provisions in vendor agreements, and key considerations for incident response. See “Six Ways to Address Privacy Concerns in Biometric Vendor Contracts” (Mar. 3, 2021).