Common use of Audit Rights and Record Keeping Clause in Contracts

Audit Rights and Record Keeping. 20.1 The Distributor shall maintain adequate internal controls and procedures to assure compliance with Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and the Direct Sales and Anti-Pyramid Scheme Act 1993 including but not limited to procedures to ensure that all transactions are accurately recorded and reported in its books and records to reflect truly the activities to which they pertain such as the purpose of each transaction and to whom it was made or from whom it was received. 20.2 For the purposes of documenting compliance with Laws, the Distributor shall maintain, either physically, by electronic media or on microfilm, all records and information related to the Distributorship Agreement for a period of five (5) years after the Distributorship Agreement’s end date. Such records and information shall include at a minimum all invoices for payment submitted by the Distributor to the Company along with complete supporting documentation and all records and information related to the execution or performance of Distributorship Agreement. 20.3 The Company shall have the right to audit all information, rates and costs and expenses related to the Distributorship Agreement at any time during and within five (5) years after termination of the Distributorship Agreement. The Company or any person authorised by the Company may have access at all reasonable times to any place where the records are being maintained and the Distributor shall afford every reasonable facility for this right of access. The Company shall have the right to reproduce and retain copies of any of the aforesaid records or information. The Distributor shall implement all agreed recommendations arising from the audits within a time scale, mutually agreed with the Company.

Audit Rights and Record Keeping. 20.1 19.1 The Distributor HBD shall maintain adequate internal controls and procedures to assure compliance with Anti-Money AntiMoney Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and the Direct Sales and Anti-Pyramid Scheme Act 1993 including but not limited to procedures to ensure that all transactions are accurately recorded and reported in its books and records to reflect truly the activities to which they pertain such as the purpose of each transaction and to whom it was made or from whom it was received. 20.2 19.2 For the purposes of documenting compliance with Laws, the Distributor HBD shall maintain, either physically, by electronic media or on microfilm, all records and information related to the Distributorship Agreement HBD Contract for a period of five (5) years after the Distributorship Agreement’s HBD Contract's end date. Such records and information shall include at a minimum all invoices for payment submitted by the Distributor HBD to the Company along with complete supporting documentation and all records and information related to the execution or performance of Distributorship AgreementHBD Contract. 20.3 19.3 The Company shall have the right to audit all information, rates and costs and expenses related to the Distributorship Agreement HBD Contract at any time during and within five (5) years after termination of the Distributorship AgreementHBD Contract. The Company or any person authorised by the Company may have access at all reasonable times to any place where the records are being maintained and the Distributor HBD shall afford every reasonable facility for this right of access. The Company shall have the right to reproduce and retain copies of any of the aforesaid records or information. The Distributor IBO shall implement all agreed recommendations arising from the audits within a time scale, mutually agreed with the Company.

Audit Rights and Record Keeping. 20.1 19.1 The Distributor DOD shall maintain adequate internal controls and procedures to assure compliance with Anti-Anti- Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 Xxx 0000 and the Direct Sales and AntiXxxx-Pyramid Scheme Act 1993 Xxxxxxx Xxxxxx Xxx 0000 including but not limited to procedures to ensure that all transactions are accurately recorded and reported in its books and records to reflect truly the activities to which they pertain such as the purpose of each transaction and to whom it was made or from whom it was received. 20.2 19.2 For the purposes of documenting compliance with Laws, the Distributor DOD shall maintain, either physically, by electronic media or on microfilm, all records and information related to the Distributorship Agreement DOD Contract for a period of five (5) years after the Distributorship Agreement’s DOD Contract's end date. Such records and information shall include at a minimum all invoices for payment submitted by the Distributor DOD to the Company along with complete supporting documentation and all records and information related to the execution or performance of Distributorship AgreementDOD Contract. 20.3 19.3 The Company shall have the right to audit all information, rates and costs and expenses related to the Distributorship Agreement DOD Contract at any time during and within five (5) years after termination of the Distributorship AgreementDOD Contract. The Company or any person authorised by the Company may have access at all reasonable times to any place where the records are being maintained and the Distributor DOD shall afford every reasonable facility for this right of access. The Company shall have the right to reproduce and retain copies of any of the aforesaid records or information. The Distributor IBO shall implement all agreed recommendations arising from the audits within a time scale, mutually agreed with the Company.