What is recommended record keeping that is not required by regulations?

Keeping copies of correspondence relating to an order is highly recommended as a best practice for record-keeping even though it is not specifically mandated by regulations. Maintaining this type of documentation offers several advantages. It helps in tracking the entire lifecycle of an order, including negotiations, confirmations, changes, and any issues that may arise. This can facilitate better communication and coordination among parties and ensure that all details are adequately documented and accessible for future reference. Furthermore, having this correspondence can serve as valuable evidence in dispute resolution or if questions arise regarding the order's terms or conditions.

In contrast, while detailed shipment logs, financial audit records, and environmental compliance documents are essential for regulatory compliance and operational integrity, they are typically mandated by law or industry regulations, making them less about recommended record keeping and more about compliance obligations.