Common use of Records and Retention Clause in Contracts

Records and Retention. 1. To establish and maintain books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of funds provided by FNCAC under this Subcontract in accordance with Rule 2.440, Florida Rules of Judicial Administration. 2. To retain, at no additional cost to FNCAC, all client records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Subcontract for a period of five (5) years after completion of the Subcontract, or if an audit has been initiated and audit findings have not been resolved at the end of five (5) years, the records and documents shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Subcontract. If any such records are eligible for destruction under applicable record retention schedules before five (5) years after completion of the Subcontract the records may be destroyed with the prior written approval of the FNCAC Contract Manager. 3. Upon demand and at no additional cost to FNCAC, the Recipient will facilitate the duplication and transfer of any records or documents during the required retention period.

Records and Retention. 1. To establish and maintain books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of funds provided by FNCAC under this Subcontract agreement in accordance with Rule 2.440, Florida Rules of Judicial Administration. 2. To retain, at no additional cost to FNCAC, all client records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Subcontract agreement for a period of five (5) years after completion of the Subcontractagreement, or if an audit has been initiated and audit findings have not been resolved at the end of five (5) years, the records and documents shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Subcontractagreement. If any such records are eligible for destruction under applicable record retention schedules before five (5) years after completion of the Subcontract agreement the records may be destroyed with the prior written approval of the FNCAC Contract Grant Manager. 3. Upon demand and at no additional cost to FNCAC, the Recipient will facilitate the duplication and transfer of any records or documents during the required retention period.