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Government Record Retention: How Long Should You Be Storing Contracts?

Learn types of records that must be maintained, time frames for retention, and best practices for implementing an effective records retention policy.

Federal award recipients - contractors, subcontractors, grantees, and subgrantees - performing federal contracts are required to comply with federal record retention requirements set forth in the FAR, Uniform Grant Guidance, and related guidance. Although seemingly straightforward on their face, interpretation and compliance with these obligations - especially in today's technically advanced world - presents a variety of challenges. These challenges are magnified when a company faces the specter of a broad federal audit or investigation. This information helps the persons responsible for interpreting and applying federal record retention obligations understand the basic requirements and how to ensure full compliance with the existing rules. Failing to have the proper policies and compliance mechanisms in place to ensure compliance with federal record keeping requirements can lead to significant adverse audit findings, penalties and/or sanctions and also could have collateral impacts under other federal statutes (such as the False Claims Act). This topic will help you avoid these pitfalls, but just as important, this information will equip you with the tools necessary to work with the compliance and business side of your organizations on the best approaches to ensure compliance with these seemingly simple obligations.

Runtime: 98 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Typical Record Retention Requirements

  • Basic Requirements

- Federal Record Retention Requirements

- Types of Records

- Company Policies and Procedures

- Subcontracting Issues

  • Select State and Local Record Retention Requirements

Federal Audits and Investigations

  • Federal Audits

- Nature of Audit Authority/Oversight

- Scope of Obligations

- Preservation and Access to Records Obligations

- Examples

  • Federal Agency Investigations

- Scope of Production Issues

- Fraudulent Records

- Record Sharing Restrictions (Criminal vs. Civil Subpoena)

- Examples

  • Sanctions for Failure to Preserve or Provide Required Records

Best Practices and Strategies for Ensuring Compliance

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at ondemandinfo@lorman.com or call us at 866-352-9540.

This course was last revised on April 30, 2018.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.8
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.8 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • ND CLE 1.75
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.75 hours of CLE credit.
     
  • NH MCLE 1.6
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 95 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.63
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.63 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of self-study CLE credit.
     
  • WA CLE 1.75
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.75 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Eric W. Leonard

Eric W. Leonard

Wiley Rein LLP

  • Partner in the office of Wiley Rein LLP located in Washington, D.C.
  • Practice emphasizes all aspects of government contracts with a specific emphasis on handling labor and employment issues that arise for companies that do business with the federal government
  • Considerable experience handling issues arising under the False Claims Act including criminal and civil actions and crafting federal contractor compliance plans and programs to mitigate risk
  • Conducts regular seminars and workshops on a wide range of government contracting topics. Recent examples include webinars on the Service Contract Act, federal sick leave requirements, the Fair Pay and Safe Workplaces Act, ethical issues for government contractors, and risk mitigation in the management of federal subcontractors
  • Written several publications on a wide range of government contracts issues; also a regular contributor and commenter for articles published on federal labor and employment issues by Bloomberg’s BNA Federal Contracts Report and SHRM among others as well as assisted with drafting comments in response to the recent federal sick leave rules and Fair Pay and Safe Workplaces rules
  • J.D. degree, with honors, George Washington School of Law; B.A. degree, The Johns Hopkins University
  • Active member of the Professional Services Council, a vice-chair of the ABA Public Contract Law Section, Employment Safety and Labor Committee, and National Contract Management Association
  • Can be contacted at 202-719-7185 or eleonard@wileyrein.com
George E. Petel

George E. Petel

Wiley Rein LLP

  • Associate in the office of Wiley Rein LLP located in Washington, D.C.
  • Broad practice with focus on ethics and contract compliance, small business issues, cost accounting, purchasing/subcontracting issues, civil and criminal contracting fraud, and bid protests and other disputes
  • Conducts regular seminars and workshops on a wide range of government contracting and grant topics, including regulatory developments, cost accounting, merger and acquisition risks, audits, and ethical issues in government contracting
  • J.D. degree, The George Washington University Law School; B.A. degree, Swarthmore College
  • Vice-chair of the ABA Public Contract Law Section’s Young Lawyers Committee and active in the Section’s Small Business Committee and Subcontracting, Teaming, and Strategic Alliances Committee
  • Can be contacted at 202-719-3759 or gpetel@wileyrein.com
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401833
Published 2018
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