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U.S. Department of Homeland Security United States Coast Guard. S. COAST GUARD GUIDELINES FOR USING THIRD PARTY ORGANIZATIONS TO ENSURE REGULATORY COMPLIANCECOMDTINST M5760.16 July 2017Commandant United
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Using third-party organizations helps businesses outsource certain tasks or services to external companies in order to save time and resources.
Businesses or individuals who utilize services from third-party organizations are required to file using them in their financial records or reports.
To fill out using third-party organizations, one must carefully document all transactions, services, or payments made to the third-party organizations.
The purpose of using third-party organizations is to streamline operations, reduce costs, and sometimes gain access to specialized expertise.
Information such as the name of the third-party organization, services provided, total cost of services, and any specific terms or agreements must be reported.
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