Our Record Retention Policy provides a detailed framework for managing the retention and disposal of various types of records within an organization. It outlines specific guidelines for how long different categories of documents should be retained, based on legal, regulatory, and operational requirements. The policy covers a wide range of records including financial documents, employee files, legal contracts, and more. Each section specifies the retention period for different document types and assigns responsibilities for maintaining and destroying records to ensure compliance and prevent unnecessary accumulation of outdated records.

Furthermore, the document emphasizes the importance of secure document disposal to protect sensitive information from potential security breaches. It includes procedures for shredding and recycling documents that are no longer needed, and it details the roles of different departments and personnel in implementing these procedures. The policy also addresses exceptions for retaining documents beyond their standard retention periods, particularly in cases involving legal investigations or audits. Overall, this policy serves as a comprehensive guide for organizations to manage their records efficiently and in compliance with applicable laws and regulations.

Sample procedures include:

• All agreements, including supply contracts, labor contracts, sales contracts and documents reflecting all other contractual arrangements, should be maintained for seven years following their expiration.
• All retained records must be clearly labeled and stored in a secure environment. Backup files included for the IRS should be stored at off-site locations.
• All shred papers will be collected daily and transported to a central location in the mailroom where shredding will be done the following morning by mailroom personnel.