Source: OJ L, 2024/1773, 25.6.2024Current language: EN
- Digital operational resilience in the financial sector
ICT third-party service providers
- RTS on ICT third-party service provider policy
Article 10 Exit from and termination of the contractual arrangements
Summary What does Article 10 of the RTS on ICT third-party service provider policy say?
This article closes out the lifecycle requirements for contractual arrangements introduced in Article 4 by addressing the exit phase.
It requires that the policy includes documented exit plans for each contractual arrangement, and that those plans are periodically reviewed and tested.
The article also sets out the quality standards an exit plan must meet, ensuring that plans are grounded in reality rather than being purely theoretical exercises.
Important points:
- Include a documented exit plan for each contractual arrangement within the policy, covering scenarios such as service interruptions, failed delivery, and unexpected termination.
- Periodically review and test each documented exit plan.
- Each exit plan must be realistic, feasible, based on plausible scenarios and reasonable assumptions, and include an implementation schedule compatible with the exit and termination terms in the contractual arrangements.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
The policy shall contain requirements for a documented exit plan for each contractual arrangement and for the periodic review and testing of the documented exit plan. When establishing the exit plan, the following shall be taken into account:
unforeseen and persistent service interruptions;
inappropriate or failed service delivery;
the unexpected termination of the contractual arrangement.
The exit plan shall be realistic, feasible, based on plausible scenarios and reasonable assumptions and shall have a planned implementation schedule compatible with the exit and termination terms established in the contractual arrangements.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.