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A retention schedule is a listing of organizational information types, or series of information in a manner which facilitates the understanding and application of the ...
A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained", irrespective of format (paper, electronic, or other). Retention periods vary with ...
Retention periods are set by an organization-specific retention schedule based on regulatory, statutory, and legal requirements, business needs, and historical or intrinsic value. Information should be appropriately disposed when it is no longer valuable to protect privacy and confidentiality.
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However the release of retention is different with 50% of the withheld money often released once the works are considered to be 50% complete. Some states have taken measures to abolish or limit the use of retentions in public contracts. [3]: 163 In the United States the use of retention bonds is more common than in the UK.
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A records retention schedule is a document, often developed using archival appraisal concepts and analysis of business and legal contexts within the intended jurisdictions, that outlines how long certain types of records need to be retained for before they can be destroyed. For the retention schedule to be utilized a number of guidelines need ...
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