Common use of Data Retention and Audit of Records Clause in Contracts

Data Retention and Audit of Records. Customer shall retain data on file adequate to permit remaking of Entries for five (5) days following the date of their transmittal by the Bank as provided herein, and shall provide such Data to the Bank upon its request. Without limiting the generality of the forgoing provision, Customer specifically agrees to be bound by and comply with all applicable provisions of the Rules regarding the retention of documents or any record, including, without limitation, Customer’s responsibilities to retain all items, source documents, and records of authorization in accordance with the Rules. The Bank reserves the right to audit Customer’s compliance with terms of this Agreement and the Rules.