business continuity requirements
Definition
Business continuity requirements are rules or obligations that require your business to have a plan for keeping operations running during unexpected disruptions like natural disasters, cyberattacks, or power outages. These requirements can come from government regulators, industry standards, or contracts with customers and partners who need assurance that you can keep serving them no matter what happens.
Example
A company that processes credit card payments might be required by its payment processor contract to maintain a written disaster recovery plan that ensures customer data stays protected and transactions can resume within 24 hours of any system failure.
Watch Out
If your business contracts or industry regulations include business continuity requirements and you fail to meet them, you could face fines, lose your operating licenses, or get dropped by important clients who consider your lack of preparedness a liability risk.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.