Common use of Auditing Rights Clause in Contracts

Auditing Rights. 34.1 Construction Contractor shall keep all records and supporting documentation which concern or relate to the Work hereunder for a minimum of three (3) years from the date of termination of this Contract or the date the Project is completed, whichever is later or such longer period of time as may be required by law. Construction Contractor shall require all of its subcontractors to likewise retain all of their Project records and supporting documentation. Owner, and any duly authorized agents or representatives of Owner, shall be provided access to all such records and supporting documentation at any and all times during normal business hours upon request by Owner. Further, Owner, and any duly authorized agents or representatives of Owner, shall have the right to audit, inspect and copy all of Construction Contractor’s and any subcontractor’s Project records and documentation as often as they deem necessary and Construction Contractor shall cooperate in any audit, inspection, or copying of the documents. These access, inspection, copying and auditing rights shall survive the termination of this Contract. 34.2 If at any time, Owner conducts such an audit of Construction Contractor’s records and documentation and finds that Construction Contractor overcharged Owner, Construction Contractor shall pay to Owner the Overcharged Amount which is defined as the total aggregate overcharged amount together with interest thereon (such interest to be established at the rate of 12% annum). If the Overcharged Amount is equal to or greater than $10,000.00, Construction Contractor shall pay to Owner the Overcharged Amount and the Audit Amount which is defined as the total aggregate of Owner’s reasonable audit costs incurred as a result of its audit of Construction Contractor. Owner may recover the Overcharged Amount and the Audit Amount, as applicable, from any amount due or owing Construction Contractor with regard to the Project or under any other agreement between Construction Contractor and Owner. If such amounts owed Construction Contractor are insufficient to cover the Overcharged Amount and Audit Amount, as applicable, then Construction Contractor hereby acknowledges and agrees that it shall pay such remaining amounts to Owner within seven (7) business days of its receipt of Owner’s invoice for such remaining amounts. In no event shall the Overcharged Amount or the Audit Amount be deemed a reimbursable Cost of the Work. 34.3 This Article 34, including all access, inspection, copying, auditing, reimbursement and repayment rights shall survive the termination of this Contract.

Auditing Rights. 34.1 31.1 Construction Contractor shall keep all records and supporting documentation which concern or relate to the Work hereunder for a minimum of three (3) years from the date of termination of this Contract or the date the Project is completed, whichever is later or such longer period of time as may be required by law. Construction Contractor shall require all of its subcontractors to likewise retain all of their Project records and supporting documentationdocumentation regarding any work performed under a Change Order, Construction Change Directive, or Unit Prices. Owner, and any duly authorized agents or representatives of Owner, shall be provided access to all such records and supporting documentation at any and all times during normal business hours upon request by Owner. Further, Owner, and any duly authorized agents or representatives of Owner, shall have the right to audit, inspect and copy all of Construction Contractor’s 's and any subcontractor’s 's Project records and documentation as often as they deem necessary and Construction Contractor shall cooperate in any audit, inspection, or copying of the documents. These access, inspection, copying and auditing rights shall survive the termination of this Contract. 34.2 31.2 If at any time, Owner conducts such an audit of Construction Contractor’s 's records and documentation and finds that Construction Contractor overcharged OwnerOwner for any work performed under a Change Order, Construction Change Directive, or Unit Prices, Construction Contractor shall pay to Owner the Overcharged Amount which is defined as the total aggregate overcharged amount together with interest thereon (such interest to be established at the rate of 126% annum). If the Overcharged Amount is equal to or greater than $10,000.00, Construction Contractor shall pay to Owner the Overcharged Amount and the Audit Amount which is defined as the total aggregate of Owner’s 's reasonable audit costs incurred as a result of its audit of Construction Contractor. Owner may recover the Overcharged Amount and the Audit Amount, as applicable, from any amount due or owing Construction Contractor with regard to the Project or under any other agreement between Construction Contractor and Owner. If such amounts owed Construction Contractor are insufficient to cover the Overcharged Amount and Audit Amount, as applicable, then Construction Contractor hereby acknowledges and agrees that it shall pay such remaining amounts to Owner within seven ten (710) business days of its receipt of Owner’s 's invoice for such remaining amounts. In no event shall the Overcharged Amount or the Audit Amount be deemed a reimbursable Cost of the Work. 34.3 31.3 This Article 3433, including all access, inspection, copying, auditing, reimbursement and repayment rights shall survive the termination of this Contract.

Auditing Rights. 34.1 Construction Contractor shall keep all records and supporting documentation which concern or relate to the any particular Work hereunder for a minimum of three (3) years from the date of termination of this Contract or the date the applicable Project is completed, whichever is later later, or such longer period of time as may be required by law. Construction Contractor shall require all of its subcontractors to likewise retain all of their Project records and supporting documentation. Owner, and any duly authorized agents or representatives of Owner, shall be provided access to all such records and supporting documentation at any and all times during normal business hours upon request by Owner. Further, Owner, and any duly authorized agents or representatives of Owner, shall have the right to audit, inspect and copy all of Construction Contractor’s and any subcontractor’s Project records and documentation as often as they deem necessary and Construction Contractor Contract shall cooperate in any audit, inspection, or copying of the documents. These access, inspection, copying and auditing rights shall survive the termination of this Contract. 34.2 If at any time, Owner conducts such an audit of Construction Contractor’s records and documentation and finds that Construction Contractor overcharged Owner, Construction Contractor shall pay to Owner the Overcharged Amount which is defined as the total aggregate overcharged amount together with interest thereon (such interest to be established at the rate of 12% annum). If the Overcharged Amount is equal to or greater than $10,000.00, Construction Contractor shall pay to Owner the Overcharged Amount and the Audit Amount which is defined as the total aggregate of Owner’s reasonable audit costs incurred as a result of its audit of Construction Contractor. Owner may recover the Overcharged Amount and the Audit Amount, as applicable, from any amount due or owing Construction Contractor with regard to the Project or under any other agreement between Construction Contractor and Owner. If such amounts owed Construction Contractor are insufficient to cover the Overcharged Amount and Audit Amount, as applicable, then Construction Contractor hereby acknowledges and agrees that it shall pay such remaining amounts to Owner within seven (7) business days of its receipt of Owner’s invoice for such remaining amounts. In no event shall the Overcharged Amount or the Audit Amount be deemed a reimbursable Cost of the Work. 34.3 This Article 34, including all access, inspection, copying, auditing, reimbursement and repayment rights shall survive the termination of this Contract.

Auditing Rights. 34.1 Construction Contractor Manager shall keep all records and supporting documentation which concern or relate to the Work hereunder for a minimum of three (3) years from the date of termination of this Contract or the date the Project is completed, whichever is later or such longer period of time as may be required by law. Construction Contractor Manager shall require all of its subcontractors to likewise retain all of their Project records and supporting documentation. Owner, and any duly authorized agents or representatives of Owner, shall be provided access to all such records and supporting documentation at any and all times during normal business hours upon request by Owner. Further, Owner, and any duly authorized agents or representatives of Owner, shall have the right to audit, inspect and copy all of Construction ContractorManager’s and any subcontractor’s Project records and documentation as often as they deem necessary and Construction Contractor Manager shall cooperate in any audit, inspection, or copying of the documents. These access, inspection, copying and auditing rights shall survive the termination of this Contract. 34.2 If at any time, Owner conducts such an audit of Construction ContractorManager’s records and documentation and finds that Construction Contractor Manager overcharged Owner, Construction Contractor Manager shall pay to Owner the Overcharged Amount which is defined as the total aggregate overcharged amount together with interest thereon (such interest to be established at the rate of 12% annum). If the Overcharged Amount is equal to or greater than $10,000.00, Construction Contractor Manager shall pay to Owner the Overcharged Amount and the Audit Amount which is defined as the total aggregate of Owner’s reasonable audit costs incurred as a result of its audit of Construction ContractorManager. Owner may recover the Overcharged Amount and the Audit Amount, as applicable, from any amount due or owing Construction Contractor Manager with regard to the Project or under any other agreement between Construction Contractor Manager and Owner. If such amounts owed Construction Contractor Manager are insufficient to cover the Overcharged Amount and Audit Amount, as applicable, then Construction Contractor Manager hereby acknowledges and agrees that it shall pay such remaining amounts to Owner within seven thirty (730) business days of its receipt of Owner’s invoice for such remaining amounts. In no event shall the Overcharged Amount or the Audit Amount be deemed a reimbursable Cost of the Work. 34.3 This Article 34, including all access, inspection, copying, auditing, reimbursement and repayment rights shall survive the termination of this Contract.

Auditing Rights. 34.1 Construction Contractor Manager shall keep all records and supporting documentation which concern or relate to the Work hereunder for a minimum of three (3) years from the date of termination of this Contract or the date the Project is completed, whichever is later or such longer period of time as may be required by law. Construction Contractor Manager shall require all of its subcontractors to likewise retain all of their Project records and supporting documentation. Owner, and any duly authorized agents or representatives of Owner, shall be provided access to all such records and supporting documentation at any and all times during normal business hours upon request by Owner. Further, Owner, and any duly authorized agents or representatives of Owner, shall have the right to audit, inspect and copy all of Construction ContractorManager’s and any subcontractor’s Project records and documentation as often as they deem necessary and Construction Contractor Manager shall cooperate in any audit, inspection, or copying of the documents. These access, inspection, copying and auditing rights shall survive the termination of this Contract. 34.2 If at any time, Owner conducts such an audit of Construction ContractorManager’s records and documentation and finds that Construction Contractor Manager overcharged Owner, Construction Contractor Manager shall pay to Owner the Overcharged Amount which is defined as the total aggregate overcharged amount together with interest thereon (such interest to be established at the rate of 12% annum). If the Overcharged Amount is equal to or greater than $10,000.00, Construction Contractor Manager shall pay to Owner the Overcharged Amount and the Audit Amount which is defined as the total aggregate of Owner’s reasonable audit costs incurred as a result of its audit of Construction ContractorManager. Owner may recover the Overcharged Amount and the Audit Amount, as applicable, from any amount due or owing Construction Contractor Manager with regard to the Project or under any other agreement between Construction Contractor Manager and Owner. If such amounts owed Construction Contractor Manager are insufficient to cover the Overcharged Amount and Audit Amount, as applicable, then Construction Contractor Manager hereby acknowledges and agrees that it shall pay such remaining amounts to Owner within seven (7) business days of its receipt of Owner’s invoice for such remaining amounts. In no event shall the Overcharged Amount or the Audit Amount be deemed a reimbursable Cost of the Work. 34.3 This Article 34, including all access, inspection, copying, auditing, reimbursement and repayment rights shall survive the termination of this Contract.

Auditing Rights. 34.1 Construction Contractor shall 33.1 CONTRACTOR must keep all records and supporting documentation which concern or relate to the Work hereunder for a minimum of three (3) years from the date of termination of this Contract Agreement or the date the Project is completed, whichever is later later, or such longer period of time as may be required by law. Construction Contractor shall CONTRACTOR must require all of its subcontractors to likewise retain all of their Project records and supporting documentation. OwnerOWNER, and any duly authorized agents or representatives of OwnerOWNER, shall must be provided access to all such records and supporting documentation at any and all times during normal business hours upon request by OwnerOWNER. Further, OwnerOWNER, and any duly authorized agents or representatives of OwnerOWNER, shall must have the right to audit, inspect and copy all of Construction Contractor’s CONTRACTOR’S and any subcontractor’s Project records and documentation as often as they deem necessary and Construction Contractor shall CONTRACTOR must cooperate in any audit, inspection, or copying of the documents. A financial audit of all the CONTRACTORS records of all costs and fees that the CONTRACTOR billed to the OWNER must take place by an Independent Financial Auditor employed by the OWNER on or after issuance of the final payment to the CONTRACTOR by the OWNER. These access, inspection, copying and auditing rights shall must survive the termination of this ContractAgreement. 34.2 33.2 If at any time, Owner OWNER conducts such an audit of Construction Contractor’s CONTRACTOR’S records and documentation and finds that Construction Contractor CONTRACTOR overcharged OwnerOWNER, Construction Contractor shall CONTRACTOR must pay to Owner OWNER the Overcharged Amount which is defined as the total aggregate overcharged amount together with interest thereon (such interest to be established at the rate of 12% annum)amount. If the Overcharged Amount is equal CONTRACTOR’S records and documentation fail to or greater than $10,000.00, Construction Contractor shall pay allow the OWNER to Owner the Overcharged Amount perform a standard audit and the Audit Amount which is defined as OWNER has to increase the total aggregate of Owner’s reasonable audit costs incurred as a result scope and/or timeframe of its audit of Construction Contractorresulting in additional costs or expenses, the CONTRACTOR must pay to the OWNER, the additional costs and/or expenses. Owner OWNER may recover the Overcharged additional costs and/or expenses Amount and the Audit Amount, as applicable, from any amount due or owing Construction Contractor CONTRACTOR with regard to the Project or under any other agreement between Construction Contractor CONTRACTOR and OwnerOWNER. If such amounts owed Construction Contractor CONTRACTOR are insufficient to cover the Overcharged additional costs and/or expenses Amount and Audit Amount, as applicable, then Construction Contractor CONTRACTOR hereby acknowledges and agrees that it shall must pay such remaining amounts to Owner OWNER within seven (7) business days of its receipt of Owner’s OWNER’S invoice for such remaining amounts. In no event shall the Overcharged Amount or the Audit Amount be deemed a reimbursable Cost of the Work. 34.3 33.3 This Article 34, including all access, inspection, copying, auditing, reimbursement and repayment rights shall must survive the termination of this ContractAgreement.