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An inactive record is a record that is no longer needed to conduct current business but is being preserved until it meets the end of its retention period, such as when a project ends, a product line is retired, or the end of a fiscal reporting period is reached. These records may hold business, legal, fiscal, or historical value for the entity ...
Data retention defines the policies of persistent data and records management for meeting legal and business data archival requirements. Although sometimes interchangeable, it is not to be confused with the Data Protection Act 1998 .
As a result, the first Guide to Record Retention Requirements was published in 1955. This guide is updated annually and is used by archivists and other record managers both in and out of government. [1] The Federal Records Act was amended over time. Amendments in 1976 emphasized paperwork reduction and information lifecycle management. [1]
A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained", irrespective of format (paper, electronic, or other). Retention periods vary with ...
(a) A record or signature may not be denied legal effect or enforceability solely because it is in electronic form. (b) A contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation. (c) If a law requires a record to be in writing, an electronic record satisfies the law.
Records used infrequently may be moved to an “inactive records facility” until they meet their retention limit. Although some information retains long-term value, most records lose relevance over time, with their highest value occurring shortly after creation. Records then transition from active to semi-active and eventually to inactive. [12]
Records management professionals in designing comprehensive and effective records management programs. The principles identify the critical hallmarks of information governance, which Gartner describes as an accountability framework that "includes the processes, roles, standards, and metrics that ensure the effective and efficient use of ...
A retention schedule is a listing of organizational information types, or series of information in a manner which facilitates the understanding and application of the identified and approved retention period, and other information retention aspects.