When companies and law firms purchase an artificial intelligence (AI) tool from a vendor, they need to consider the risks and controls they can put in place to mitigate those risks. They will have no control over associated risks unless their contracts with those vendors provide such rights. This article synthesizes insights shared during a BARBRI program on risks from use of third-party AI tools and considerations for approaching contracting with vendors. It also offers practical advice from the speakers, including Simon Boehme, COO of BillingNav; Chris Draper, CEO and co-founder of morriganAI; and William Galkin, a partner and founder of Galkin Law, LLC, on six key AI vendor contract clauses to help companies transform an AI governance program from just policy statements into enforceable operational safeguards. See “The Core Benefits and Burdens of AI Use in Financial Services” (Apr. 23, 2026).