Due Diligence Checklist and Risk Assessment
Partnership Proposal Form must be accompanied in all cases by supplementary information on the proposed partner(s) using the Due Diligence Checklist which also includes a Risk Assessment.
In the case of a high risk result, schools/institutes should seek further advice from ARCS and provide any relevant supplementary documentation to strengthen the case.
The Due Diligence Checklist will be scrutinised by PB to assess if the prospective partner is of good standing and has the capacity to fulfil its designated role in the arrangement.
The purpose of ‘due diligence’ is to manage any risks that might arise in relation to working in collaboration with another institution. A starting point will be an examination of the legal status of the prospective partner, which is relevant to the party’s capacity to enter into a contract.
Because of the added complexity involved in working with partners in distant locations and with different cultural approaches, the potential risks need to be carefully assessed.
The questions in the Due Diligence Check-list and the Risk Assessment are intended to provide PB with the necessary information to determine what risks if any are associated with a proposal and the type of mitigation that may be required to address them.
A “high risk” assessment for a proposed collaboration does not necessarily mean it cannot go ahead. However, it would indicate that a more extensive examination may be required of the collaborative proposal and the potential partner.
The form consists of a checklist and a risk analysis. The checklist is divided into a number of sections, not all of which are relevant to every proposal:
Section A: to be completed for all partners/proposals;
Section B: to be completed for UK partners only;
Section C: Financial matters: level of scrutiny to be determined;
Section D: For overseas partners only;
Section E: For industrial partners;
Section F: Academic matters: for joint/double taught or research degrees.
ARCS will advise which sections need to be completed. Where a particular sub-section is not applicable to proposals, this should be confirmed clearly within the box provided (using ‘N/A’). Boxes should not be left blank.
Where the arrangement involves more than one partner, a full due diligence should be completed for each partner. When drawing information from web pages, relevant links should be provided.
For students who are travelling abroad for their placement, a risk assessment should be undertaken (the International Office can help with this), and the Memorandum of Agreement should specify any health and safety and insurance requirements.