VendorHearth Pro includes tools for managing both vendor agreements and vendor document requirements.
Although these features work together, they serve different purposes.
Agreements are terms or policies that vendors are required to accept.
Documents are files that vendors may be required to provide to your organization.
Vendor Agreements #
Agreements allow your organization to present important terms, policies, or certifications to vendors through VendorHearth.
Examples may include:
- Vendor Agreement
- Code of Conduct
- Marketplace Standards
- Application Certification
Your organization determines the actual content of these agreements.
VendorHearth Does Not Provide Your Legal Terms #
VendorHearth provides the system for presenting and recording agreements, but it does not determine what legal terms your organization should require.
You are responsible for creating and maintaining the agreements appropriate for your organization and events.
If you are unsure what legal language your agreements should contain, consider consulting a qualified professional.
Agreement Acceptance #
When VendorHearth requires an agreement, the vendor can review and accept it through the appropriate VendorHearth workflow.
VendorHearth maintains acceptance information so organizers can determine whether the required agreement has been accepted.
These acceptance records should be preserved as part of the vendor’s historical record.
Updating Agreements #
Organizations may occasionally need to replace or update an agreement.
Use care when doing so.
An acceptance of an older agreement represents what the vendor agreed to at that time and should not be rewritten to make it appear that the vendor accepted a newer version.
Preserving historical acceptance information provides a more accurate record.
Vendor Documents #
Documents are different from agreements.
Instead of asking the vendor to accept terms, a document requirement asks the vendor to provide a file.
Depending on your organization, examples might include:
- Insurance documentation
- Permits
- Licenses
- Certificates
- Other required vendor documentation
Your organization decides which documents are required.
Document Requirements #
VendorHearth allows organizers to establish document requirements for vendors.
These requirements can then be used to track whether the appropriate documentation has been submitted.
Document Uploads #
When a document is required, the vendor can provide the requested file through the VendorHearth workflow.
Organizers can then review the submitted documentation.
Uploading a document does not necessarily mean the organizer has reviewed or approved its contents.
Expiration Dates #
Some vendor documents may only be valid for a limited period.
VendorHearth can track expiration information for applicable documents.
This is useful for documentation that may need to be renewed periodically.
Organizers should review expiration information when determining whether a vendor’s documentation is still current.
Agreements vs. Documents #
A simple way to remember the difference is:
Agreement: The vendor is accepting something.
Document: The vendor is providing something.
For example:
Code of Conduct → Agreement
Certificate of Insurance → Document
Both may be required, but they serve different purposes.
Keep Requirements Relevant #
Only require agreements and documents that your organization actually needs.
Too many unnecessary requirements can make the vendor registration process more complicated and increase the amount of information organizers must maintain.
VendorHearth provides the tools, while your organization determines which requirements are appropriate.
Maintaining Accurate Records #
Avoid manually changing historical information simply to make a vendor appear compliant.
Instead, maintain accurate records of:
- What the vendor accepted
- When it was accepted
- What documents were submitted
- Whether documents were reviewed
- When applicable documents expire
Accurate records make the Agreements & Documents system much more useful over time.
Next Step #
Continue to Creating and Managing Vendor Agreements to learn how to add and maintain the agreements vendors may be required to accept.
