If you are a business owner, there is a high chance you’re dependent on third parties to run your business. Conducting a background check on third parties is known as Third-Party Due Diligence. Nowadays, it is extremely necessary to find out about the third parties before getting associated with them. Third-Party Due Diligence should be carried out before signing a contract or commencing the business with the third parties. in addition, continuous third party monitoring is also very vital to keep up with the ever-changing business risks. Due Diligence also helps in understanding & reducing the risks associated with the Third Parties.