Retention of Documents definition

Retention of Documents. All written consumer authorizations, along with all adverse action letters provided to consumers, including copies of government issued identification needed to verify the identity of the applicant must be retained by the Client for no less than five (5) years and must be made available to RPS, in a timely manner, if requested. • Verification of Data – Client shall conduct an independent verification of the information contained in the report to ensure that it pertains to the applicant before taking any adverse action. • Adverse Action – Whenever Client takes adverse action against a consumer that is based in whole or in part on information contained in a report obtained from RPS, Client shall provide such consumer with an adverse action letter as required by FCRA §615(a). As required by the FCRA §615(a)(3)(A), the adverse action letter must include contact information for RPS as furnisher of the report. Also required by the FCRA §615(a)(3)(B), the adverse action letter must include a statement that RPS did not make the decision to take the adverse action and is unable to provide the consumer the specific reasons why the adverse action was taken. Therefore, Client shall not direct consumers to RPS to find out why the consumer was declined, as RPS cannot advise a consumer about why the consumer was declined. • Referral to RPS – Client shall refer consumers who wish to obtain a copy of their file, or who wish to dispute an item on their file, to RPS at either its address or the toll-free number for consumer assistance.
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Examples of Retention of Documents in a sentence

  • If a Chargor fails to comply with any covenant set out in Clauses 7.1 (Duration of Undertakings) to Clause 7.5 (Retention of Documents) (inclusive) and that failure is not remedied to the satisfaction of the Chargee (acting reasonably) within 10 Business Days, it will allow (and irrevocably authorises) the Chargee or any person which the Chargee nominates to take any action on behalf of that Chargor which is necessary to ensure that those covenants are complied with.

  • Retention of Documents All paperwork associated with the recruitment process will be retained for a period of six months following which time the application form and interview notes will be destroyed.

  • DISSOLUTION 10 10.1. Mutual Agreement 10 10.2. Dissolution of the Partnership 10 10.3. Winding Up The Business 11 10.4. Proceeds of Liquidation 11 10.5. Profit or Loss 11 10.6. Distribution 11 10.7. Retention of Documents 11 10.8. Deficit Capital Account Restoration 12 ARTICLE 11.

  • Section 10.3. Assignment 30 Section 10.4. Confidentiality 30 Section 10.5. Knowledge of Seller 31 Section 10.6. Retention of Documents 31 Section 10.7. Addresses for Notices, Etc.

  • FURTHER ASSURANCE AND PERFECTION 19 5.1 General Assurance 19 5.2 Legal Mortgage 19 5.3 Additional Documents 20 5.4 Real Property: Delivery of Documents of Title 20 5.5 Land Registration 20 5.6 Note of Debenture 20 5.7 Further Advances 21 5.8 Register of Trade Marks 21 5.9 Retention of Documents 21 5.10 Power to Remedy 21 6.