Third Party Risk Assessment definition
Third Party Risk Assessment short “TPRA”: Any evaluation process conducted by Licensee to assess potential risks associated with Licensor and/or its Service, particularly focusing on cybersecurity vulnerabilities, data protection, compliance, and overall reliability. These assessments may occur annually at the start of the Term (referred to as “Routine TPRA”) with different response levels depending on Licensor’s agreed on Support obligation, or on-demand, tailored to specific use cases or Licensee-specific requirements (referred to as “Specialized TPRA”)."