Common use of Record Retention Timeframes and Destruction Requirements Clause in Contracts

Record Retention Timeframes and Destruction Requirements. Federal record retention requirements applicable to this agreement are found at 2 CFR 200.333-337. The CONTRACTOR shall retain all financial and other required records and supporting documents as follows: 1) Retain all records pertinent to this Agreement, interagency agreements, contracts or any other award, including financial, statistical, or other pertinent records, and supported documentation, for a period of at least three years after the acceptance of the final expenditure report (closeout) for that funding period by the Awarding Agency. Worksystems will notify CONTRACTOR of the record destruction date when the final expenditure report has been issued and approved. 2) Retain all records on non-expendable property for a period of at least three (3) years after final disposition of property. 3) Retain indirect cost records such as computations or proposals, cost allocation plans, and supporting documentation for three years from the date the indirect cost rate package is submitted for negotiation. If not submitted for negotiation, the three-year period identified in 13.C.1). above shall apply. 4) Retain all records pertinent to applicants, registrants, eligible applicants/registrants, participants, terminees, employees and applicants for employment as required in 13.C.1) above. Participant files should be organized and stored by program year using the participant’s year of exit. 5) Retain records regarding complaints and actions taken on the complaints for a period of not less than three (3) years from the date of resolution of the complaint. 6) Retain all records beyond the required period if any litigation or audit has begun or a claim is instituted involving the grant or agreement covered by the records. The records shall be retained until the litigation, audit or claim has been resolved or the specified destruction date, whichever is longer.

Record Retention Timeframes and Destruction Requirements. Federal record retention requirements applicable to this agreement are found at 2 CFR 200.333-337. The CONTRACTOR shall retain all financial and other required records and supporting documents as follows: 1) Retain all records pertinent to this Agreement, interagency agreements, contracts or any other award, including financial, statistical, or other pertinent records, and supported documentation, for a period of at least three years after the acceptance of the final expenditure report (closeout) for that funding period by the Awarding Agency. Worksystems WWP will notify CONTRACTOR of the record destruction date when the final expenditure report has been issued and approved. 2) Retain all records on non-expendable property for a period of at least three (3) years after final disposition of property. 3) Retain indirect cost records such as computations or proposals, cost allocation plans, and supporting documentation for three years from the date the indirect cost rate package is submitted for negotiation. If not submitted for negotiation, the three-year period identified in 13.C.1). above shall apply. 4) Retain all records pertinent to applicants, registrants, eligible applicants/registrants, participants, terminees, employees and applicants for employment as required in 13.C.1) aboveemployment. Participant files should be organized and stored by program year using the participant’s year of exit. 54) Retain records regarding complaints and actions taken on the complaints for a period of not less than three (3) years from the date of resolution of the complaint. 65) Retain all records beyond the required period if any litigation or audit has begun or a claim is instituted involving the grant or agreement covered by the records. The records shall be retained until the litigation, audit or claim has been resolved or the specified destruction date, whichever is longer. After the record retention period has passed, any records destroyed must be commercially shredded.

Record Retention Timeframes and Destruction Requirements. Federal record retention requirements applicable to this agreement are found at 2 CFR 200.333200.334-337338. The CONTRACTOR shall retain all financial and other required records and supporting documents as follows: 1) Retain all records pertinent to this Agreement, interagency agreements, contracts or any other award, including financial, statistical, or other pertinent records, and supported documentation, for a period of at least three years after the acceptance of the final expenditure report (closeout) for that funding period by the Awarding Agency. Worksystems will notify CONTRACTOR of the record destruction date when the final expenditure report has been issued and approved. 2) Retain all records on non-expendable property for a period of at least three (3) years after final disposition of property. 3) Retain indirect cost records such as computations or proposals, cost allocation plans, and supporting documentation for three years from the date the indirect cost rate package is submitted for negotiation. If not submitted for negotiation, the three-year period identified in 13.C.1). above shall apply. 4) Retain all records pertinent to applicants, registrants, eligible applicants/registrants, participants, terminees, employees and applicants for employment as required in 13.C.1) above. Participant files should be organized and stored by program year using the participant’s year of exit. 5) Retain records regarding complaints and actions taken on the complaints for a period of not less than three (3) years from the date of resolution of the complaint. 6) Retain all records beyond the required period if any litigation or audit has begun or a claim is instituted involving the grant or agreement covered by the records. The records shall be retained until the litigation, audit or claim has been resolved or the specified destruction date, whichever is longer.

Record Retention Timeframes and Destruction Requirements. Federal record retention requirements applicable to this agreement Master Agreement are found at 2 CFR 200.333-337. The CONTRACTOR shall retain all financial and other required records and supporting documents as follows: 1) Retain all records pertinent to this Master Agreement, interagency agreements, contracts or any other award, including financial, statistical, or other pertinent records, and supported documentation, for a period of at least three years after the acceptance of the final expenditure report (closeout) for that funding period by the Awarding Agency. Worksystems will notify CONTRACTOR of the record destruction date when the final expenditure report has been issued and approved. 2) Retain all records on non-expendable property for a period of at least three (3) years after final disposition of property. 3) Retain indirect cost records such as computations or proposals, cost allocation plans, and supporting documentation for three years from the date the indirect cost rate package is submitted for negotiation. If not submitted for negotiation, the three-year period identified in 13.C.1). ) above shall apply. 4) Retain all records pertinent to applicants, registrants, eligible applicants/registrants, participants, terminees, employees and applicants for employment as required in 13.C.1) above. Participant files should be organized and stored by program year using the participant’s year of exit. 5) Retain records regarding complaints and actions taken on the complaints for a period of not less than three (3) years from the date of resolution of the complaint. 6) Retain all records beyond the required period if any litigation or audit has begun or a claim is instituted involving the grant or agreement covered by the records. The records shall be retained until the litigation, audit or claim has been resolved or the specified destruction date, whichever is longer. After the record retention period has passed, any records destroyed must be commercially shredded.