At Loumidea, we recognize the importance of protecting your privacy while ensuring the integrity of our marketplace. This Data Retention Policy outlines how we manage, store, and eventually delete your data in accordance with legal requirements and business needs.
2. Data Retention Principles
Our data retention practices are guided by the following principles:
Minimization: We collect and retain only the data necessary for our services.
Purpose Limitation: We use data only for the purposes for which it was collected.
Storage Limitation: We keep data only for as long as necessary.
Security: We implement appropriate safeguards to protect data during its lifecycle.
3. What Happens When You Delete Your Account
When you delete your account from our platform, we take the following steps:
Personal Information: Your identifiable information (name, email, profile picture, contact details) will be pseudonymized within 30 days of account deletion.
Account Access: You will immediately lose access to your account and can no longer log in.
Public Profile: Your profile will be removed from public view on the platform.
4. Data We Retain After Account Deletion
For legal, financial, and marketplace integrity reasons, we retain certain information even after account deletion:
Contract Records: Information related to contracts is retained to maintain the integrity of completed transactions and protect all parties involved.
Financial Records: Payment and transaction data is retained for tax and accounting purposes.
Dispute Records: Information related to disputes is retained to resolve ongoing issues and prevent fraud.
Reviews and Feedback: Reviews you've written or received may be retained to maintain marketplace quality and integrity.
5. Legal Basis for Retention
We retain certain data based on:
Legal Obligations: Tax and financial regulations require us to keep transaction records for up to 7 years.
Legitimate Business Interests: We need to maintain marketplace integrity, prevent fraud, and protect other users.
Contractual Necessity: We need to fulfill existing obligations to users and enforce our Terms of Service.
6. Data Deletion Timeline
We follow these timelines for data retention and deletion:
Account Information: Pseudonymized within 30 days of account deletion request.
Financial Records: Retained for 7 years as required by financial regulations.
Contract Records: Retained for 5 years after completion.
Dispute Records: Retained for 3 years after resolution.
Inactive Accounts: After 2 years of inactivity, we may notify you about account deletion options.
7. Your Rights Regarding Data Retention
You have the following rights related to data retention:
Access: Request a copy of all data we hold about you.
Correction: Update inaccurate information.
Erasure: Request deletion of data where we have no compelling reason to retain it.
Restriction: Limit how we process your data in certain circumstances.