Data Retention Policy

The purpose of this Policy is to ensure that necessary records and documents are adequately protected and maintained and to ensure that records that are no longer needed, or are of no value, are discarded at the proper time. This Policy applies to all members of staff and any third parties that work on behalf of Fine Cut.

Records may need to be securely retained to meet statutory, regulatory or contractual requirements, as well as to support essential business activities. Examples include records that may be required as evidence that an organisation operates within statutory or regulatory rules, to ensure defence against potential civil or criminal action or to confirm the financial status of an organisation to shareholders, external parties and auditors. National law or regulation may set the time period and data content for information retention.

We have assessed our records to:

  • Determine their value as a source of information about Fine Cut, its operations, relationships and environment
  • Assess their importance as evidence of business activities and decisions
  • Establish whether there are any legal or regulatory retention requirements

The following data retention periods apply:

  • Customer details – Life of relationship plus six years
  • Supplier details – Life of relationship plus six years
  • Non associate details (e.g. prospects, non-customers) – Current year plus one year
  • Financial records – Current year plus six years
  • Contract records – Life of contract plus six years

In some instances, this Data Retention Policy may be temporarily suspended, specifically if an investigation, court case, or audit is anticipated. In some instances, this policy’s Data Retention schedule may conflict with the need to produce documents relevant to the aforementioned legal or regulatory procedures. If this is the case, then the need to comply fully with the law and/or regulation will override this policy, causing this policy to be temporarily suspended until the matter in question is satisfactorily resolved. Suspension of this policy will take the form of no business documents being disposed of whatsoever for a period of time.

The Company’s Data & Records Retention Schedule is maintained by the GDPR Compliance Manager.