Unless this is covered in the contract, there generally is no specific time period. Statistically, most professional liability claims are filed, if ever, within 3 years after substantial completion of the project. Many states have a 6 year outside limit on filing claims. On the theory that your documents would prove more helpful than harmful, it would be a good idea to keep key project documents for between 4 and 7 years after substantial completion. In the event a claim is ever made, you cannot subsequently dispose of documents that relate to the claim.
This is an example of the helpful information you receive when you have a “Practice Coach” – through the AIA Trust LegaLine service. To learn more about LegaLine and how it can help you, click here.
More from the “Did You Know” series.