Promote a fourth-nth party to a third party

  • Release version: Australia
  • Updated March 12, 2026
  • 1 minute to read

    • Promote a fourth-nth party record to a third party by using the Third-party Risk Management application. If you’re now working with a fourth-nth party at the third-party level, you can keep relevant information current by promoting a fourth-nth party record to a third-party record.

    Before you begin

    Role required: sn_vdr_risk_asmt.vendor_risk_assessor

    About this task

    When preparing to request due diligence for a new engagement, you can upgrade an existing fourth-nth party record to a third-party record, rather than creating a record. This third-party record is automatically populated with the existing fourth-nth party information, while the original fourth-nth party record and its relationships remain intact.

    For example, Company A is pursuing a new project and needs to conduct due diligence on an engagement with a supplier, Supplier B. Previously, Supplier B was considered a fourth party because they were a subcontractor managed through a different third party, Supplier A. However, for this new project, Company A decides to work directly with Supplier B for their new project. Company A promotes Supplier B from a fourth party to a third party in their records. This scenario means that Supplier B is now directly associated with Company A. Company A can now conduct due diligence on their new engagement with Supplier B. Supplier B is a third party for Company A and still a fourth party for Supplier A.

    Procedure

    1. Navigate to Workspaces > Vendor Management Workspace.
    2. Select the list icon and then navigate to Third parties > All fourth parties.
    3. Select the desired fourth-nth party.
    4. Select Add as a third-party.
      A third-party record is created that incorporates all the existing fourth-nth party record information and then designates that fourth-nth party as a known fourth party. Known fourth parties have been or are in the process of being assessed for risk as part of the due diligence workflow. You can access all available due diligence information at the fourth-nth party and its corresponding third-party level.

      For more information on fourth-nth parties, see Monitoring your fourth-nth parties.