Policy

NOTE: An electronic copy of a Financing Statement, Financing Change Statement or supporting documentation is acceptable for retention purposes.

All Financing Statements, Financing Change Statements submitted for processing must be retained for the life of the registration plus 90 days.

Financing Change Statements for Garage Keepers’ Lien, the Court Order must be retained for the life of the registration plus 90 days.

Financing Change Statements for Demand to Secured Party / Proof of Demand to Secured Party – the Demand to Secured Party, Proof of Demand to Secured Party and registered mail postal receipts must be retained for the life of the registration plus 90 days.
Financing Statements / Financing Change Statements for Court Order registrations, the Court Order must be retained for life of the registration plus 90 days.

All Discharge documents must be retained for 90 days.

All Search Request documents, the original documents should be retained on file for as long as your business practices deem appropriate.

Destruction

Do not destroy original documents used to register interest (e.g. Financing Statement, Financing Change Statements, or electronic copies of Financing Statement, Financing Change Statement, etc.), until the required retention period has passed.

Documents must be destroyed in one of the following methods:

• Incinerate in a secure area.
• Shredding machine. Shredding company (company must be bonded).
• Ripping into very small pieces.
• Deleting electronic files from computers.