Archiving Procurement Contracts

We have requirement where customer wants to to store Procurement Contracts in Fusion Application without being purged.

If it's purged, how long oracle will store the data(retention Period)?

Also, if it is purged, is there any standard solution within Oracle, where the customer can archive & retrieve the data/files?

Is there any limitation based on the number or volume of contracts/Documents & attachments beyond which the data will be purged or additional licences to be procured to retain the data/files?

Please provide any standard documentation available for this or kindly elaborate on this process.