Why is CIP important?
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Besides, what is CIP used for?
Clean-in-place (CIP) is a method of cleaning the interior surfaces of pipes, vessels, process equipment, filters and associated fittings, without disassembly. The advent of CIP was a boon to industries that needed frequent internal cleaning of their processes.
Similarly, how do CIP systems work? CIP refers to the use of a mix of chemicals, heat and water to clean machinery, vessels or pipe work without dismantling plant. The process can be one shot, where everything goes to drain, or recovery, which recycles most of the liquid.
In this way, what information is required for CIP?
At a minimum, the bank must retain the identifying information (name, address, date of birth for an individual, TIN, and any other information required by the CIP) obtained at account opening for a period of five years after the account is closed.
How long does CIP last?
The CIP rule requires that a bank retain the identifying information obtained about the customer at the time of account opening for five years after the date the account is closed or, in the case of 7 Page 8 credit card accounts, five years after the account is closed or becomes dormant.