Section 24 in Punjab Water Supply and Sewerage Board (Purchase Procedure)
24. Preservation of records.
- Unless otherwise necessary in consequence of any audit objection by Internal or Statutory Audit or pendency of any dispute with the supplier or arbitration or Court proceedings, all records relating to each purchase i.e. the notice inviting tenders, the quotations from suppliers, the comparative statement and the relevant purchase order issued, together with relevant correspondence, should be preserved for a period of five years reckoned from the date of completion of supply of the entire material/release of security whichever is later.
