Legal Tips for Dealing With Your Core Processing Vendor

Core processing contracts are typically close to 100 pages of dense legal content with exhibits, schedules, and addenda that allocate risks in favor of the processor and against the bank. The vendor wants your board to believe the terms are standard, and there is no opportunity to negotiate. Notwithstanding the complexity of the contract and the vendor’s strong reluctance to make modifications, the following tips can help you to regain an element of control in managing this third-party relationship.

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