Third party access to SQL

We have a hosted SQL server with various internal applications on it. It has
been decided by on high that the same server will also have a database from a
third party on the server. The third party have asked for full system admin
rights on the SQL server.

Obviously I am not going to grant that access level as it gives them full
control on the box. From my viewpoint read and write access to the data can
be tolerated but anything else will be denied. Would you consider this
standard and is there any documentation with recommendations for control of
external suppliers ?

I am sure that they shouldn`t be doing any work on tables structure, sp`s
etc on a live database. That work should be tested, scripted etc and then run
on in a controlled environment by my company.

Anyone have any advice ?

Thanks

SI
.

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