CAS 212: File Management in Location / Retention Schedule

Record Retention Effective Date: January 12, 2023 Introduction In order to maintain compliance and ensure that our records are properly managed, it is essential to follow the record retention policies outlined below. Proper adherence to these guidelines is crucial for effective record-keeping, auditing, and legal compliance. Record Retention Guidelines 1. Bills of Lading (BOLs) Retention Period: 5 years Description: Bills of Lading (BOLs) are critical documents that provide proof of the shipment and receipt of goods. They should be retained for a period of 5 years from the date of issuance to ensure that all shipment records are available for reference, audits, or any potential disputes. 2. Driver Records Retention Period: 3 years Description: Driver records include various documents related to the drivers employed by the company. This may encompass: Driving licenses Medical examination reports Training records Any infractions or incident reports These records should be maintained for 3 years from the date they are created or last updated. This ensures compliance with transportation regulations and helps in managing driver qualifications and performance. 3. Receipts Retention Period: 1 year Description: Receipts are essential for tracking transactions and expenses. They must be kept for at least 1 year to support financial reporting, audits, and expense claims. This period allows for the verification and reconciliation of transactions within the company's financial records. 4. Vancouver Location Receipts and Banking Records Retention Period: 7 years Description: For the Vancouver location, receipts and banking records are to be retained for a period of 7 years. Summary Adhering to these record retention policies helps maintain organizational efficiency, supports regulatory compliance, and protects the company in legal matters. Make sure that all relevant records are properly filed and stored according to the specified retention periods. BOL's - 5 years Driver Records - 3 years (what types of records) Receipts - 1 year Vancouver is keeping receipts and banking for 7 years