Common use of Accounting; Audit Access Clause in Contracts

Accounting; Audit Access. The CM/GC shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under the Contract. The accounting and control systems shall be satisfactory to the Department. The Department the State of Tennessee Comptroller of the Treasury, and the Federal Highway Administration (FHWA), shall be afforded reasonable and regular access to the CM/GC's records, books, correspondence, instructions, drawings, receipts, subcontracts, purchase orders, vouchers, memoranda and all other Project Records relating to the Contract, and the CM/GC shall preserve these for a period of six (6) years after Final Acceptance, or until all disputes, if any, concerning the Contract or the Project have been resolved, whichever occurs later, or for such longer period as may be required by law. The CM/GC shall require each subcontractor to retain its Project records for a period of six (6) years and to provide equivalent access to all Project Records to the Department, the State of Tennessee Comptroller of the Treasury, and the Federal Highway Administration (FHWA). The CM/GC shall require each subcontractor to include in lower-tier subcontracts the same Project Record retention and access requirements.

Accounting; Audit Access. The CM/GC shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under the Contract. The accounting and control systems shall be satisfactory to the Department. The Department the State of Tennessee Comptroller of the Treasury, and the Federal Highway Administration (FHWA), shall be afforded reasonable and regular access to the CM/GC's records, books, correspondence, instructions, drawings, receipts, subcontracts, purchase orders, vouchers, memoranda and all other Project Records relating to the Contract, and the CM/GC shall preserve these for a period of six (6) years after Final Acceptance, or until all disputes, if any, concerning the Contract or the Project have been resolved, whichever occurs later, or for such longer period as may be required by law. The CM/GC shall require each subcontractor Subcontractor to retain its Project records for a period of six (6) years and to provide equivalent access to all Project Records to the Department, the State of Tennessee Comptroller of the Treasury, and the Federal Highway Administration (FHWA). The CM/GC shall require each subcontractor Subcontractor to include in lower-tier subcontracts the same Project Record retention and access requirements.

Accounting; Audit Access. The CM/GC shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under the Contract. The accounting and control systems shall be satisfactory to the Department. The Department Department, the State of Tennessee Comptroller of the Treasury, and the Federal Highway Administration (FHWA), shall be afforded reasonable and regular access to the CM/GC's records, books, correspondence, instructions, drawings, receipts, subcontracts, purchase orders, vouchers, memoranda and all other Project Records relating to the Contract, and the CM/GC shall preserve these for a period of six five (65) years after Final Acceptance, or until all disputes, if any, concerning the Contract or the Project have been resolved, whichever occurs later, or for such longer period as may be required by law. The CM/GC shall require each subcontractor to retain its Project records for a period of six five (65) years and to provide equivalent access to all Project Records to the Department, the State of Tennessee Comptroller of the Treasury, and the Federal Highway Administration (FHWA). The CM/GC shall require each subcontractor to include in lower-tier subcontracts the same Project Record retention and access requirements.