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Subject: Question on Retention Period (Active Records & Semi-Active)
From: Michel Okemi <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Fri, 5 Feb 2010 11:21:23 -0500

text/plain (21 lines)

Hello Folks,
Happy New Year for all of you. Hope this new year 2010 will bring us some good records thoughts.
Right now, I am working as records consultant with a company in St. John's (Newfoundland & labrador, Canada).
I am doing a retention schedule. I have a question regarding a client loan file; I did some legal research for Newfoundland regarding the legislation assigned for client file loan but I did not find anything.
This is idea: a client file loan remain "Active Records" (in the office) in accordance with the terms of loan (e.g. 5, 10, 15 years)
After that when the loan is paid in full, How long to keep it as "Semi-Active"(in off-site) before the final disposal?
What will be a standard best practices approach for this question regarding a client file loan?
I believe the same concern about a loan will also work for a contract/agreements?
Is anyone want to share same experiences with me? I would appreciate that.
Thank you in advance for all your inputs.
Have a nice week end.
Records Consultant
St. John's, NF

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