Question from Gen, How long do I have to retain outgoing contractual documents and agreements in Estonia as a business?
Answer from AI:
In Estonia, businesses are required to retain outgoing contractual documents and agreements for a specific period as mandated by law. The primary regulation governing the retention of business documents, including contracts, is the **Accounting Act** (Raamatupidamise seadus).
Retention Period for Business Documents
According to the **Accounting Act**, businesses must retain accounting source documents, which include contracts and agreements, for a period of **seven years**. This period starts from the end of the financial year in which the document was created.
Relevant Regulation and Section
The specific regulation and section that outline this requirement are:
- Accounting Act (Raamatupidamise seadus)
- Section 12 (Retention of Accounting Source Documents)
You can find the full text of the Accounting Act on the [Riigi Teataja](https://www.riigiteataja.ee/en/eli/ee/504112013003/consolide/current) website.
Secure Disposal of Documents After Retention Period
Once the retention period has passed, businesses must securely dispose of outgoing correspondence and other documents to protect sensitive information. The **Personal Data Protection Act** (Isikuandmete kaitse seadus) provides guidelines on the secure disposal of documents containing personal data.
Relevant Regulation and Section
The specific regulation and section that address the secure disposal of documents are:
- Personal Data Protection Act (Isikuandmete kaitse seadus)
- Section 23 (Obligations of the Controller and Processor)
The full text of the Personal Data Protection Act is available on the [Riigi Teataja](https://www.riigiteataja.ee/en/eli/ee/504112013003/consolide/current) website.
Steps for Secure Disposal
To securely dispose of documents, consider the following steps:
- Shredding: Use a cross-cut shredder to destroy paper documents.
- Digital Data: Use data wiping software to permanently delete electronic files.
- Professional Services: Hire a certified document destruction service for large volumes of documents.
Consulting a Legal Professional
While this information provides a general overview, it is important to consult with a legal professional for personalized advice tailored to your specific situation. Legal professionals can help ensure compliance with all relevant laws and regulations.
For more detailed information, you can refer to the [Accounting Act](https://www.riigiteataja.ee/en/eli/ee/504112013003/consolide/current) and the [Personal Data Protection Act](https://www.riigiteataja.ee/en/eli/ee/504112013003/consolide/current) on the Riigi Teataja website.
The answer is written by AI.
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Disclaimer: The information provided in this response is intended for general informational purposes only and should not be considered as legal advice. While we strive to provide accurate information, we make no guarantees regarding the accuracy or legal validity of the information presented. Laws and regulations vary by jurisdiction and can change over time, and the application of laws can vary widely based on the specific facts and circumstances involved. Therefore, you should consult with a qualified legal professional before making any decisions related to legal matters. Do not rely solely on the information provided in this response for any legal decisions. We disclaim any and all liability with respect to actions taken or not taken based on the contents of this response.
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