Common use of Data Retention and Disposal Clause in Contracts

Data Retention and Disposal. The Parties shall adopt a document retention and disposal policy which conforms to the requirements of Applicable Privacy and Data Security Laws as well as other applicable laws and the PCI Requirements. The Parties also shall use commercially reasonable efforts to monitor and implement other industry standard practices applicable to document retention and disposal. The aforementioned document retention and disposal policy shall orient towards deleting Personal Information (or a portion thereof) if it is no longer needed by a Party to fulfill its obligations under the Agreement. Irrespective of the form of existence (e.g., whether on paper documents or electronic copies), the destruction or deletion of Personal Information must be carried out in a manner that makes retrieval impossible to the extent reasonably practicable, consistent with Applicable Privacy and Data Security Laws, or other applicable laws and the PCI Requirements,