BANKING AFFAIRS

Detailed explanation-1: -Obsolete record – a record that has met its retention period, is no longer useful. to the organization, and may be destroyed. Office retention schedule – an abbreviated records retention schedule that.

Detailed explanation-2: -Six years from date of last entry, and longer if required by state statute, or if the records may be needed in any pending proceeding.

Detailed explanation-3: -A contract shall be retained for a period of 8 (Eight) Years or for 8 (Eight) Years after the expiry of the term of the contract, whichever is higher. Documents relating to any property owned by the Company shall be retained perpetually.