My company requires that the vendor retain the records for the full retention or return them for off-site storage when the 3rd party vendor no longer requires them for billing, etc purposes. After all, the org is responsible for regulatory retention. We also dictate the format that the records must be retained in. Finally, many 3rd party arrangements can end with a dispute unrelated to the specific records. If you do not spell out an exit strategy for the records when writing the contract you may be surprised by the cost to retrieve them after the fact. Out-soucing to a third party does not absolve a company from its responsibilities. The records should never ne allowed out of your control regardless of whose custody they are in
Brenda Hobbs
This message sent via my Black Berry
----- Original Message -----
From: Nancy Ur [mailto:[log in to unmask]]
Sent: Monday, January 03, 2011 05:11 PM
To: [log in to unmask] <[log in to unmask]>
Subject: Disposition of Records at End of Vendor Contracts
Thanks, Pilar and Peter. Many vendors are pushing back and only want to
keep the records in question two or three years max, then dispose of them.
I'm interested in finding out if anyone has created clauses that require
the vendor to just send the records back to the company, rather than take
the risk that the vendor may not keep the records as stated, or that some
other breach may occur.
Nancy K. Ur
Corporate Records Manager
Chubb & Son, a division of Federal Insurance Company
General Counsel/WTO+1
15 Mountain View Road
Warren, N.J. 07059
Phone: 908-903-3436
Fax: 908-903-3820
This e-mail (which includes any attachments) is intended to be read only
by the person(s) to whom it is addressed. This e-mail may contain
confidential proprietary information and may be a confidential
attorney-client communication, exempt from disclosure under applicable
law. If you have received this e-mail in error, do not print it, forward
it or disseminate or use it or its contents. In such event, please notify
the sender by return e-mail (or by phone at the number shown above) and
delete the e-mail file immediately thereafter. Thank you for your
cooperation.
List archives at http://lists.ufl.edu/archives/recmgmt-l.html
Contact [log in to unmask] for assistance
To unsubscribe from this list, click the below link. If not already present, place UNSUBSCRIBE RECMGMT-L or UNSUB RECMGMT-L in the body of the message.
mailto:[log in to unmask]
Email Disclaimer
The information contained in or attached to this email is intended only for the use of the addressee. If you are not the intended recipient of this email, or a person responsible for delivering it to the intended recipient, you are strictly prohibited from disclosing, copying, distributing, or retaining this email or any part of it. It may contain information which is confidential and/or covered by legal, professional or other privilege under applicable law. If you have received this email in error, please notify us immediately by return email.
The views expressed in this email are not necessarily the views of Centrica plc, nor its North American subsidiaries, and the said companies and their respective directors, officers and employees make no representation, nor accept any liability, regarding its accuracy or completeness, unless expressly stated to the contrary.
List archives at http://lists.ufl.edu/archives/recmgmt-l.html
Contact [log in to unmask] for assistance
To unsubscribe from this list, click the below link. If not already present, place UNSUBSCRIBE RECMGMT-L or UNSUB RECMGMT-L in the body of the message.
mailto:[log in to unmask]
|
