Records Management/Retention Policy
Contents |
1. BACKGROUND
FAR has certain record retention requirements that must be adhered to.
2. PURPOSE
The purpose is to identify regulations and establish company requirements for the management and treatment of corporate records
3. DEFINITIONS
Record - Any information that is generated or received by the company regardless of its form or media.Record Management- The systematic control of all company records (active or inactive) from the time the record is first generated or received through the time the record is properly disposed of.Vital Records- Company records that are considered essential for the continuation of business operations.
4. SCOPE
The scope of the policy is to all GovC wiki companies and subsidiaries.
5. POLICY
GovC will comply with all legal, regulatory, contractual and historical record retention requirements. All GovC companies and operating departments are responsible for the fulfillment of these requirements.
6. BASIC REQUIREMENTS
Basic Requirements: a. Corporate business records are retained only if they are necessary to conduct business or are legally required. b. The retention policy and period applies to the original or primary document unless otherwise stated. c. Copies of records should not be maintained longer than the original document.
