Owner Verification

VIVE is committed to protecting our clients by collecting and verifying company ownership information for vendors who register through the VIVE platform. Validation checks vary based on specific client requirements and settings.

As part of our fraud validation process, VIVE has the ability to vet the owners of vendors registered in VIVE. Owner verification may include checks for:

• Whether the owner(s) appear on any government watch lists.

• Whether the owner(s) have felony convictions.

• Whether the owner(s) have recent misdemeanor convictions.

• Whether the owner(s) have recent bankruptcies.

• Whether the owner(s) have an excessive number of outstanding liens or judgments.

• Whether the owner(s) are listed on a sex offender registry.

The requested personal information, public data reports, and specific owner verification results are not shared with the client. This information is securely stored within VIVE’s hosted and protected application environment and is not used for any commercial purposes.

Insurance Compliance Details in VIVE

VIVE performs a comprehensive insurance review for each vendor to ensure they meet all client-specific requirements. This review includes verifying multiple components of the vendor’s Certificate of Insurance (COI), such as policy limits, coverage types, and expiration dates. 

Important Rule: One Failure = Full Insurance Review Failure

If any single component of the insurance policy fails to meet the client’s minimum requirements, the entire insurance review will be marked as "Fail."

This means that even if most of the insurance meets requirements, but one required policy or coverage amount does not, the vendor will not pass the compliance check.

What Happens After a Failed Insurance Review?

• Vendor Notification – Vendors will receive an email from VIVE outlining which insurance requirement(s) were not met. Vendors are given 30 days to resolve the issue. During this time, the vendor’s status will remain Reviewing until either the issue is corrected or the 30-day period expires.
• Client Visibility – The management company can see the failed compliance status in the VIVE Vendor Profile.
• Vendor Resolution – The vendor must update their insurance coverage and provide a new COI to VIVE for re-evaluation.
• Re-Review Process – Once the updated COI is submitted, VIVE will review the new documentation and update the compliance status accordingly.

By understanding this "one failure = full failure" rule, vendors can take proactive steps to maintain compliance and avoid service disruptions.

Vendor & Management Visibility

• Vendors: Can view their compliance status directly in VIVE and receive notifications about missing or failed items.
• Clients: Can track compliance status for all vendors to ensure adherence to company policies.

Tip: Regularly checking the Vendor Compliance Section helps vendors stay ahead of expiring policies and maintain compliance status without interruptions!

Best Practices

• Vendors should proactively update compliance documents to avoid failed or expired statuses.
• Email reminders ensure vendors are aware of missing or expired policies.
• Clients should review a vendor's statuses prior to the vendor performing work to ensure all active vendors meet requirements.

By utilizing the Vendor Compliance section in VIVE, both vendors and clients can efficiently track and maintain compliance, reducing risks and ensuring seamless operations.