Data Retention Policy

Data Retention Policy for Records on Goods and Services

Introduction

This Data Retention Policy outlines the retention and disposal guidelines for records related to goods and services of Eterna Lighting Ltd, in compliance with UK regulations and industry best practices. The objective is to ensure that records are managed in a way that supports operational needs, legal requirements, and efficient information governance. 

Scope

This policy applies to all records pertaining to goods and services, including but not limited to:

  • Purchase orders
  • Invoices
  • Delivery notes
  • Contracts
  • Customer complaints and feedback
  • Inventory records

Responsibilities

  • Data Protection Officer (DPO): Ensures compliance with this policy and relevant data protection regulations.
  • Department Heads: Ensure that their teams adhere to the policy.
  • Employees: Follow the guidelines set out in this policy when handling records on goods and services.

Retention Periods

Financial Records

  • Invoices (Accounts Payable and Receivable): 6 years from the end of the financial year in which the transaction was made.
  • Purchase Orders: 6 years from the end of the financial year in which the order was completed. 

Contractual Records

  • Contracts and Service Agreements: 6 years after the expiry or termination of the contract.
  • Delivery Notes: 6 years from the end of the financial year in which the delivery was made. 

Inventory Records

  • Inventory and Stock Records: 6 years from the end of the financial year to which they relate.

Customer and Supplier Records

  • Customer Complaints and Feedback: 3 years after resolution.
  • Supplier Records: 6 years from the end of the financial year in which the transaction was made. 

Data Disposal

At the end of the retention period, records must be securely disposed of. The following methods should be used:

  • Paper Records: Shredding or incineration.
  • Electronic Records: Permanent deletion from all systems, including backups.

Exceptions

Any exceptions to this policy must be documented and approved by the Data Protection Officer. 

Policy Review

This policy will be reviewed annually or in response to changes in relevant legislation, regulatory requirements, or business needs. 

Compliance and Monitoring

Compliance with this policy will be monitored through periodic audits. Non-compliance may result in disciplinary action in accordance with company policies. 

Contacts

For any questions regarding this policy, please contact:

  • Data Protection Officer: Sue Blatchford
  • Email: sue.blatchford@eterna-lighting.co.uk
  • Phone: 01933 673344

This policy is effective from 1st June 2024