this is one of the conundrums of records retention scheduling. many times
there is no statutory or regulatory requirement for the retention of a
record. In this case you fall back upon the administrative, operational,
fiscal, legal or historical need for the record. in this case legal could
be a contractual requirement e.g., retain letter of credit until redeem or
renewed.
you will have to decide what is the appropriate retention period for your
organization. Be sure and talk with the business units that create, use and
maintain the letters of credit. They will know the operational, fiscal and
administrative needs for them
On Wed, Oct 23, 2013 at 6:32 PM, Jessica Fairchild
<[log in to unmask]>wrote:
> Good afternoon,
> I'm seeking a legal citation for the retention of letters of credit. Does
> anyone know of a reference? Many of the schedules I found identify a 7
> year retention, but they do not include any legal reference.
>
--
Peter Kurilecz CRM CA IGP
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Dallas, Texas
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