Common use of Audit and Inspection Rights of Government Clause in Contracts

Audit and Inspection Rights of Government. 7.1 The Government shall have the right (a) to carry out an audit in accordance with clause 19.2 of the Agreement; (b) to appoint an auditor to undertake or assist with the audit. The expenditure incurred in respect of such audit shall be borne by the Company as a general and administrative expenditure. Notice of any exception to the Company's accounts for any Calendar Year shall be submitted to the Company within six months of the receipt by the Minister of the report of its auditors. The Minister shall ensure that such report is submitted to it within a reasonable time after completion of the audit field work. For purposes of auditing, the Minister may examine and verify at reasonable times all charges and credits relating to the Company's activities under the Agreement and all books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records considered by the Minister to be necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of the Company directly or indirectly serving its activities under the Agreement and to visit personnel associated with those activities. 7.2 The Company shall answer any notice of exception under paragraph 7.1 within six months of the receipt of such notice. Where the Company has after the said six month period failed to answer a notice of exception made by the Minister, the Minister's exception shall prevail, until such time as the Minister's exception is resolved. 7.3 Without prejudice to the finality of matters as described in Clause 19 and this paragraph all documents referred to in paragraph 7.1 shall be maintained and made available for inspection by the Minister for seven years following their date of issue.

Audit and Inspection Rights of Government. 7.1 The Government shall have the right (a) to carry out an audit in accordance with clause 19.2 of the Agreement; (b) to appoint an auditor to undertake or assist with the audit. The expenditure incurred in respect of such audit shall be borne by the Company as a general and administrative expenditure. Notice Noti ce of any exception to the Company's accounts for any Calendar Year shall be submitted to the Company within six months of the receipt by the Minister of the report of its auditors. The Minister shall ensure that such report is submitted to it within a reasonable re asonable time after completion of the audit field work. For purposes of auditing, the Minister may examine and verify at reasonable times all charges and credits relating to the Company's activities under the Agreement and all books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records considered by the Minister to be necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of the Company directly or indirectly serving its activities under the Agreement and to visit personnel associated with those activities. 7.2 The Company shall answer any notice of exception under paragraph 7.1 within six months of the receipt of such notice. Where the Company has after the said six month period failed to answer a notice of exception made by the Minister, the Minister's exception shall prevail, until such time as the Minister's exception is resolved. 7.3 Without prejudice to the finality of matters as described in Clause 19 and this paragraph all documents referred to in paragraph 7.1 shall be maintained and made available for inspection by the Minister for seven years following their date of issue.

Audit and Inspection Rights of Government. 7.1 The Government shall have the right (a) to carry out an audit in accordance with clause 19.2 of the Agreement; (b) to appoint an auditor to undertake or assist with the audit. The expenditure incurred in respect of such audit shall be borne by the Company as a general and administrative expenditure. Notice of any exception to the Company's ’s accounts for any Calendar Year shall be submitted to the Company within six months of the receipt by the Minister of the report of its auditors. The Minister shall ensure that such report is submitted to it within a reasonable time after completion of the audit field work. For purposes of auditing, the Minister may examine and verify at reasonable times all charges and credits relating to the Company's ’s activities under the Agreement and all books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records considered by the Minister to be necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of the Company directly or indirectly serving its activities under the Agreement and to visit personnel associated with those activities. 7.2 The Company shall answer any notice of exception under paragraph 7.1 within six months of the receipt of such notice. Where the Company has after the said six month period failed to answer a notice of exception made by the Minister, the Minister's ’s exception shall prevail, until such time as the Minister's ’s exception is resolved. 7.3 Without prejudice to the finality of matters as described in Clause 19 and this paragraph all documents referred to in paragraph 7.1 shall be maintained and made available for inspection by the Minister for seven (7) years following their date of issue.

Audit and Inspection Rights of Government. 7.1 The Government shall have the right (a) to carry out an audit in accordance with clause 19.2 of the Agreement; (b) to appoint an auditor to undertake or assist with the audit. The expenditure incurred in respect of such audit shall be borne by the Company as a general and administrative expenditure. Notice of any exception to the Company's ’s accounts for any Calendar Year shall be submitted to the Company within six months of the receipt by the Minister of the report of its auditors. The Minister shall ensure that such report is submitted to it within a reasonable time after completion of the audit field work. For purposes of auditing, the Minister may examine and verify at reasonable times all charges and credits relating to the Company's ’s activities under the Agreement and all books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records considered by the Minister to be necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of the Company directly or indirectly serving its activities under the Agreement and to visit personnel associated with those activities. 7.2 The Company shall answer any notice of exception under paragraph 7.1 within six months of the receipt of such notice. Where the Company has after the said six month period failed to answer a notice of exception made by the Minister, the Minister's ’s exception shall prevail, until such time as the Minister's ’s exception is resolved. 7.3 Without prejudice to the finality of matters as described in Clause 19 and this paragraph all documents referred to in paragraph 7.1 shall be maintained and made available for inspection by the Minister for seven years following their date of issue.

Audit and Inspection Rights of Government. 7.1 The Government shall have the right (a) to carry out an audit in accordance with clause 19.2 of the Agreement; (b) to appoint an auditor to undertake or assist with the audit. The expenditure incurred in respect of such audit shall be borne by the Company as a general and administrative expenditure. Notice of any exception to the Company's ’s accounts for any Calendar Year shall be submitted to the Company within six months of the receipt by the Minister of the report of its auditors. The Minister shall ensure that such report is submitted to it within a reasonable time after completion of the audit field work. For purposes of auditing, the Minister may examine and verify at reasonable times all charges and credits relating to the Company's ’s activities under the Agreement and all books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records considered by the Minister to be necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of the Company directly or indirectly serving its activities under the Agreement and to visit personnel associated with those activities.its 7.2 The Company shall answer any notice of exception under paragraph 7.1 within six months of the receipt of such notice. Where the Company has after the said six month period failed to answer a notice of exception made by the Minister, the Minister's ’s exception shall prevail, until such time as the Minister's ’s exception is resolved. 7.3 Without prejudice to the finality of matters as described in Clause 19 and this paragraph all documents referred to in paragraph 7.1 shall be maintained and made available for inspection by the Minister for seven years following their date of issue.