| |||
Document Retention Guidelines All businesses need to keep certain records for legal and commercial reasons. The difficulty is in knowing which documents should be kept and for how long. The following are guidleines as to how long documentation should be kept.Agreements and Related Correspondence Contracts with customers/suppliers/agents 6 years after expiry Licensing agreements 6 years after expiry Property Documents Leases 12 years after termination Employee Records Staff Personal Records 7 years after employment ceases Unsuccessful Applications up to 1 year Payrolls 12 years Expenses 7 years Insurance Claims Correspondence 3 years after settlement Accident Reports 3 years after settlement Insurance Schedules 10 years 
|
