David,

I don't have time to write a complete response, but you asked a fairly broad
question.  Where you should find conclusive answers will be in discussion
with the groups in your business who execute the agreements and your legal
group (internal or external).  In some cases it depends on what the contract
is for, where you operate and how long the company feels is appropriate to
protect itself for each of the agreements in question and then if it makes
sense for a group of them or all of them, determine a retention period which
will most likely be based on limitations of action though it could be driven
by operational requirements.  Counting the time from the true expiration of
the contract would be the most common practice as any disposition shouldn't
start until it expires.  Be aware that clauses in the contract or subsequent
amendments may extend the agreement so your expiration date won't
necessarily remain the original expiration date.  You'll want to assure
changes to this date are tracked especially if you have a centralized
system.

Tom

-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On Behalf
Of David Ives
Sent: Friday, January 04, 2008 12:15 PM
To: [log in to unmask]
Subject: Limitation of action or Statue of limitations for Contracts??

Good day All!

I have read that a reasonable amount of time to retain contracts (ex: 
service agreements, vendor contracts...) would be until they expire and 
then add 6 years, the logic being that most lawsuits would happen within 
that time frame.  Do any of you happen to know of a specific citation for 
this or have perhaps more explicit reasoning?  I can't seem to find 
anything conclusive.  Any help would be greatly appreciated!!

Thank you!
David

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