I need to purge some files, and just not sure how long I need to keep original ROL? We already have them scanned and saved electronically to the job folders, but how long do we need to keep the originals?
There is no specific rule on how long Florida lien waiver and releases should be kept for your records. However, a good rule of thumb is to hold onto waivers and releases as long as a potential claimant could file or enforce their lien rights.
In Florida, the deadline to file a lien is either 90 days from the last date they furnished labor or materials to the project, or when the prime contract was terminated; whichever is earlier. As far as the enforcement deadline, FL liens must be enforced (at the latest) within 1 year of the filing of the claim . So to crunch the numbers, that's a year and a half after the project has been completed. It may be prudent to add some additional "buffer time" for hearings to be scheduled and requests to be sent out. Therefore, a two year retention period should be more than enough time to have the documentation available.