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DISCUSSIONS > IIA GENERAL DISCUSSION AREA [ REFRESH ]
Thread Title: Contracts
Created On Thursday June 28, 2012 4:55 PM
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KelKra


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Thursday June 28, 2012 4:55 PM

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As companies are moving more and more paperless, I'm curious as to how others are retaining company contracts. We are currently scanning in all contracts the company enters into and are retaining them electroncally; however, we are also keeping the paper originals. Is it necessary to retain the originals if the electronic versions are clearly legible? Any input would be great!

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Yuri


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Friday July 06, 2012 8:42 AM

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I remember times when e-copies considered more perishable than paper ones and e-signatures easier to forge than manual signatures. These days it's getting vise versa.

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hopingtopass


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Tuesday July 10, 2012 10:24 AM

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I would consult legal counsel, to determine if scanned copy is adequate in the event of conflict with the other party in contract.

The key issue would be to ensure that your entity has adequate, legally enforceable documentation to support your claim in a legal battle.

It seems that most companies struggle with the issue of what type of document is legally binding.


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Paul_M


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Thursday July 12, 2012 10:03 AM

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In the US, two laws establish the basis for determining whether records are “legal”: The Uniform Photographic Copies of Business and Public Records as Evidence Act (UPA) (Title 28, Section 1732 of the United States Code) (adopted by most states) and The Uniform Rules of Evidence (adopted by US federal courts and 34 states). The essence of both laws is that copies of records can be admitted into evidence if they accurately reproduce the original. Proving that the copy is in fact an accurate duplicate of the original can be a major issue. The company’s general counsel should be involved in ensuring that the copies meet the appropriate requirements.

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DISCUSSIONS > IIA GENERAL DISCUSSION AREA [ REFRESH ]
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