Company records clause: Copy, customize, and use instantly
Introduction
A company records clause outlines the responsibilities and requirements for maintaining and managing the company’s records, including financial, legal, and operational documentation. It ensures that all records are kept accurately, securely, and in compliance with relevant laws and regulations. This clause is essential for corporate governance and ensures transparency, accountability, and proper record retention for future reference or audits.
Below are templates for company records clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard company records clause
This version provides the general framework for company records management.
[Company Name] agrees to maintain accurate and complete records of all financial transactions, contracts, employee information, and other documents required by applicable laws and regulations. These records shall be retained for a minimum of [X] years, after which they may be disposed of in accordance with company policy.
Company records clause with provision for access to records
This version includes provisions for access to company records.
The company shall provide shareholders, auditors, and other authorized persons with access to its records, including financial statements, contracts, and operational records, upon reasonable request. Such access will be provided during regular business hours and in accordance with applicable confidentiality obligations.
Company records clause with digital record-keeping provisions
This clause addresses digital records management.
[Company Name] shall maintain digital records of all business activities, including emails, contracts, financial statements, and other documents. These records will be securely stored in a digital format, and the company will implement appropriate cybersecurity measures to protect the integrity and confidentiality of these records.
Company records clause with retention schedule
This version includes a retention schedule for records.
The company shall maintain a retention schedule that outlines the minimum duration for which each type of record, including financial, legal, and operational documents, must be kept. This schedule will be reviewed annually and adjusted as needed to comply with legal and regulatory requirements.
Company records clause with protection of confidential records
This version ensures the protection of confidential records.
[Company Name] agrees to protect the confidentiality of certain company records, including trade secrets, intellectual property, and employee records, from unauthorized access, disclosure, or use. Access to such confidential records will be restricted to authorized personnel only, and all access will be logged for security purposes.
Company records clause with provision for paper-based record-keeping
This clause includes paper-based record-keeping.
[Company Name] may maintain certain records in paper format, including contracts, meeting minutes, and employee files. These paper records shall be stored securely in locked cabinets and archived for easy retrieval, subject to the company’s record retention policy.
Company records clause with responsibility for record accuracy
This version emphasizes responsibility for accuracy.
The company’s officers and employees are responsible for ensuring that all records are complete, accurate, and up-to-date. Any discrepancies or errors identified in company records must be reported and corrected promptly to maintain the integrity of the company’s documentation.
Company records clause with provision for third-party audits
This clause includes provision for third-party audits.
[Company Name] agrees to allow third-party auditors to inspect and audit the company’s records, including financial statements and operational documents, as part of any audit process required by law, regulation, or as requested by shareholders.
Company records clause with electronic signature provisions
This version includes provisions for electronic signatures.
The company may utilize electronic signatures for the execution of contracts, agreements, and other legal documents. All electronically signed documents will be considered valid and legally binding, and records of such signatures will be retained in the company’s digital record-keeping system.
Company records clause with provision for backup records
This clause addresses the need for backup records.
[Company Name] shall implement a system of backup records, including digital and paper backups, to ensure the safety and availability of company records in the event of system failure or other unforeseen circumstances. Backups shall be stored securely and tested regularly to ensure their integrity.
Company records clause with provision for record destruction
This version includes provisions for record destruction.
After the retention period outlined in the company’s records retention policy has passed, the company shall securely destroy records that are no longer required. Destruction methods will include shredding of paper documents and deletion of electronic files in a manner that prevents recovery.
Company records clause with compliance with data protection regulations
This clause ensures compliance with data protection laws.
[Company Name] will comply with all applicable data protection and privacy laws, including [list applicable laws], in the maintenance, storage, and disposal of company records containing personal or sensitive information. Records containing personal data will be handled with care to protect individuals' privacy rights.
Company records clause with internal controls on records management
This version includes internal controls for record management.
[Company Name] shall implement internal controls to ensure that records are properly managed, including regular reviews and audits of records access, storage, and retention practices. Any unauthorized access to company records will be investigated and addressed promptly.
Company records clause with provision for employee access to personal records
This clause grants employees access to their own records.
Employees shall have the right to access and review their personal records held by [Company Name], including payroll, performance evaluations, and other employment-related documents. Requests for access will be processed within [X] days of the request.
Company records clause with provision for record review by board of directors
This version includes provisions for board oversight.
The board of directors of [Company Name] will periodically review the company’s records, including financial statements, legal documents, and key operational files, to ensure compliance with company policies and legal requirements. The board may request additional records for review as necessary.
Company records clause with provision for dispute resolution involving records
This clause provides for dispute resolution related to records.
In the event of a dispute regarding the content or authenticity of company records, the Parties agree to resolve the matter through mediation or arbitration, as outlined in Section [X] of this Agreement. Both Parties agree to cooperate fully in resolving such disputes.
Company records clause with provision for access by regulatory authorities
This version includes access by regulatory bodies.
[Company Name] agrees to provide regulatory authorities with access to company records when required by law or regulation. The company will cooperate with any audits or investigations conducted by such authorities and provide the requested documents within the designated timeframe.
Company records clause with management of intellectual property records
This version addresses the management of intellectual property records.
[Company Name] will maintain accurate and complete records of all intellectual property, including patents, trademarks, copyrights, and trade secrets, owned or licensed by the company. These records will be updated regularly to reflect new developments and will be stored securely.
Company records clause with provision for electronic document management system
This clause addresses the use of an electronic document management system.
[Company Name] will implement an electronic document management system for organizing and storing company records. This system will include search functionality, version control, and security measures to ensure records are easily accessible and protected from unauthorized access.
Company records clause with provision for employee training on record-keeping
This version includes training on record-keeping procedures.
[Company Name] will provide regular training to employees on the proper handling, storage, and disposal of company records. This training will include instructions on maintaining the integrity of records, complying with legal retention requirements, and following the company’s internal policies.
Company records clause with provision for managing corporate minutes
This clause specifically addresses corporate minutes management.
[Company Name] agrees to maintain accurate and complete minutes of all meetings of the board of directors, shareholders, and committees. These minutes will be signed by the chairperson or secretary and retained as part of the company’s official records.
Company records clause with provision for retention of compliance records
This version focuses on compliance records retention.
[Company Name] shall retain all records related to compliance with applicable laws, regulations, and company policies, including licenses, permits, and regulatory filings. These records will be kept for a minimum of [X] years, or as required by law, whichever is longer.
Company records clause with provision for auditing records
This clause addresses record audits.
[Company Name] agrees to undergo periodic audits of its records, including financial records, operational documents, and compliance records, as part of internal or external audit processes. Audit findings will be documented, and corrective actions will be taken as necessary.
Company records clause with provision for handling sensitive information
This version deals with sensitive information in records.
[Company Name] agrees to handle all records containing sensitive information, such as customer data, financial records, and proprietary business information, with the utmost care. Such records will be stored in secure systems and only accessible to authorized personnel.
Company records clause with provision for employee access to benefits records
This clause grants access to benefits-related records.
Employees shall have the right to access records related to their benefits, including health insurance, retirement plans, and other employee benefits. Requests for access will be processed within [X] days of the request, and all records will be provided in a secure and confidential manner.
Company records clause with provision for monitoring record access
This version ensures monitoring of record access.
[Company Name] will monitor and track all access to sensitive company records, including financial and employee-related records, to ensure that access is only granted to authorized personnel. Logs of access will be reviewed periodically for security purposes.
Company records clause with provision for records in case of liquidation
This version deals with records in case of liquidation.
In the event of a liquidation, [Company Name] agrees to retain all company records necessary for the completion of the liquidation process, including financial records, contracts, and other essential documentation. These records will be made available to the liquidator as needed to ensure compliance with legal requirements.
Company records clause with provision for managing environmental records
This version specifically addresses environmental records.
[Company Name] agrees to maintain and retain records related to environmental compliance, including permits, inspections, and regulatory filings. These records will be updated regularly and stored securely to ensure compliance with environmental laws and regulations.
Company records clause with provision for digital signatures and authenticity
This clause addresses the use of digital signatures and record authenticity.
[Company Name] will accept digital signatures as legally binding for the execution of contracts, agreements, and other official documents. All digitally signed documents will be stored in a secure system, and their authenticity will be verifiable through digital certificates.
Company records clause with provisions for data archiving
This version includes provisions for archiving records.
[Company Name] will archive records that are no longer actively in use but must be retained for legal, regulatory, or business purposes. Archived records will be stored in secure, easily accessible locations and reviewed periodically to determine whether they are still required.
Company records clause with provision for compliance with foreign jurisdictional records laws
This clause addresses compliance with foreign jurisdiction laws.
[Company Name] agrees to comply with all applicable laws governing the retention and management of records in foreign jurisdictions where the company operates. This includes maintaining and storing records in accordance with local legal and regulatory requirements.
Company records clause with responsibility for ensuring accuracy of records
This version emphasizes the responsibility for record accuracy.
All company records must be accurate, complete, and maintained in accordance with generally accepted accounting principles (GAAP) and applicable regulations. It is the responsibility of the company’s officers to ensure that all records are accurate and up-to-date.
Company records clause with provision for access by regulatory authorities
This clause allows access by regulatory bodies.
[Company Name] agrees to provide regulatory authorities with full access to company records upon request, as required by law. The company will cooperate with regulatory authorities in any investigations and provide requested documentation in a timely manner.
Company records clause with provision for protecting financial records
This version includes protection for financial records.
[Company Name] shall take all necessary steps to protect financial records from unauthorized access, modification, or disclosure. Financial records will be stored securely in encrypted formats and will only be accessible to authorized personnel within the finance department.
Company records clause with provision for ownership of records
This clause clarifies ownership of company records.
All records created or maintained by [Company Name] in the course of business, including financial records, intellectual property, and employee records, are the exclusive property of the company. Employees and contractors have no ownership rights to any records produced during their tenure with the company.
Company records clause with provision for records access in case of employee termination
This version addresses access to records after employee termination.
Upon the termination of an employee, [Company Name] will provide the employee with access to their personal records, including payroll and benefits information. However, access to other company records will be revoked immediately upon termination to protect the company’s interests.
Company records clause with provision for access during audits
This clause includes provisions for audits.
[Company Name] agrees to provide full access to its records during internal and external audits, including financial records, contracts, and compliance documentation. All records must be made available within [X] business days upon request by auditors or regulatory bodies.
Company records clause with provision for integration of third-party software
This version includes provisions for third-party software integration.
[Company Name] may integrate third-party software solutions into its record-keeping systems. The company will ensure that all third-party solutions comply with internal security standards and regulatory requirements, and the integration will not compromise the integrity or confidentiality of the company’s records.
Company records clause with provision for electronic storage and retrieval
This clause addresses electronic storage and retrieval.
[Company Name] will store all relevant records electronically, ensuring that these records can be retrieved quickly and efficiently. The company will implement a robust system for electronic storage, ensuring that all records are indexed and retrievable according to the company’s record retention policy.
Company records clause with provision for audit trails
This version includes provisions for audit trails.
[Company Name] will maintain audit trails for all electronic records, ensuring that all changes to records are logged and attributable to the relevant personnel. These audit trails will be reviewed periodically to detect any unauthorized changes or discrepancies.
Company records clause with provision for retention of tax records
This version focuses on tax records.
[Company Name] will retain all tax-related records, including tax returns, supporting documentation, and correspondence with tax authorities, for a period of [X] years following the filing date, or as required by applicable tax laws.
Company records clause with provision for protection of medical records
This clause includes protection for medical records.
[Company Name] will maintain the confidentiality of employee medical records and ensure that these records are kept separate from other employee records. Access to medical records will be limited to authorized personnel, and all records will be kept in compliance with applicable health privacy laws.
Company records clause with provision for compliance with international data privacy laws
This version addresses international data privacy compliance.
[Company Name] will comply with international data privacy laws, including [list relevant laws such as GDPR], in the maintenance and storage of all records containing personal information. All records will be stored in a secure environment, and employees’ personal data will be handled in accordance with the principles of data privacy and security.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.