Common use of Audits and Access to Records Clause in Contracts

Audits and Access to Records. Contractor must retain and maintain easily available all Records pertaining to Contractor’s performance of its obligations under this Agreement. Records (“Records”) include but are not limited to any books, reports, accounts, estimates, documents, detailed financial information, certified payrolls, invoices, or any other documentation or evidence, as well as any documents utilized in the preparation of Proposals, Invoices, Disputes, litigation and any Claims. Records must be maintained in accordance with industry standards and generally accepted accounting principles and practices consistently applied The provisions of Article 2.9.1 above shall not apply to any work product that is the result of Contractor’s collaboration with legal counsel or to any of Contractor’s confidential or proprietary information that does not fall within the definition of a Record as given above. Owner and/or its designated representative(s) will have access upon 24 hours advance written notice, at all times during Contractor’s normal business hours, to all of Contractors Records for the purposes of inspection, audit, and copying. Contractor will, at no cost to Owner, provide access and proper facilities for such purposes. Contractor shall ensure that all Subcontractor(s) and Supplier(s), of all tiers, are bound to all provisions of this Articles 2.9. Records must be retained and maintained available throughout the period of the performance of the Work and for a period of five (5) years after all obligations of the parties under a Service Work Order have been met, or until 5 years after final settlement of all Disputes, Claims, or litigation to which the Records relate, whichever event occurs later. If an audit or Owner internal review reveals that the Contractor has overcharged the Owner, the Contractor will immediately pay to the Owner the overcharged amount plus interest from the date of overpayment. The rate of interest will be equal to eighteen percent (18%) per year or the maximum rate permitted by applicable law, whichever is less. The audit or Owner internal review will be conducted at the Owner’s expense, unless the audit or review reveals that the Contractor has overcharged the Owner by ten percent (10%) or more on any invoice, in which case the Contractor will reimburse the Owner for all costs and expenses incurred by the Owner in connection with such audit or review, including direct and indirect costs associated with Owner employees. The obligations of this Article 2.9 shall survive any expiration or termination of this Agreement.

Audits and Access to Records. Contractor must retain and maintain easily available all Records pertaining to Contractor’s performance of its obligations under this Agreement. Records (“Records”) include but are not limited to any books, reports, accounts, estimates, documents, detailed financial information, certified payrolls, invoices, or any other documentation or evidencedocumentation, as well as any documents utilized in the preparation of Proposals, Invoices, and Disputes, litigation and any Claimsrelated to or prepared under this Agreement. Records must be maintained in accordance with industry standards and generally accepted accounting principles and practices consistently applied applied. The provisions of Article 2.9.1 14A above shall not apply to any work product that is the result of Contractor’s collaboration with legal counsel or to any of Contractor’s confidential or proprietary information that does not fall within the definition of a Record as given above. Owner The AOC and/or its designated representative(s) will have access upon 24 hours advance written notice, at all reasonable times during Contractor’s normal business hours, to all of Contractors Records for the purposes of inspection, audit, and copying. Contractor will, at no cost to OwnerAOC, provide access and proper facilities for such purposes. Contractor shall ensure that all Subcontractor(s) and Supplier(s), of all tiers, are bound to all provisions of this Articles 2.9Article 14. Records must be retained and maintained available throughout the period of the performance of the Work and for a period of five (5) years after all obligations of the parties under a Service Work Order this Agreement have been met, or until 5 years after final settlement of all Disputes, Claims, or litigation to which the Records relate, whichever event occurs later. If an audit or Owner AOC internal review reveals that the Contractor has overcharged the OwnerAOC, the Contractor will immediately pay to the Owner AOC the overcharged amount plus interest from the date of overpayment. The rate of interest will be equal to eighteen percent (18%) per year or the maximum rate permitted by applicable law, whichever is less. The audit or Owner AOC internal review will be conducted at the OwnerAOC’s expense, unless the audit or review reveals that the Contractor has overcharged the Owner AOC by ten percent (10%) or more on any invoice, in which case the Contractor will reimburse the Owner AOC for all costs and expenses incurred by the Owner AOC in connection with such audit or review, including direct and indirect costs associated with Owner AOC employees. The obligations of this Article 2.9 14 shall survive any expiration or termination of this Agreement.

Audits and Access to Records. Contractor Consultant must retain and maintain easily available all Records pertaining to ContractorConsultant’s performance of its obligations under this Agreement. Records (“Records”) include but are not limited to any books, reports, accounts, estimates, documents, detailed financial information, certified payrolls, invoices, or any other documentation or evidence, as well as any documents utilized in the preparation of Proposals, Invoices, Disputes, litigation and any Claims. Records must be maintained in accordance with industry standards and generally accepted accounting principles and practices consistently applied applied. The provisions of Article 2.9.1 above 15 A shall not apply to any work product that is the result of ContractorConsultant’s collaboration with legal counsel or to any of ContractorConsultant’s confidential or proprietary information that does not fall within the definition of a Record as given above. Owner AOC and/or its designated representative(s) will have access upon 24 hours advance written notice, at all times during ContractorConsultant’s normal business hours, to all of Contractors Consultants Records for the purposes of inspection, audit, and copying. Contractor Consultant will, at no cost to OwnerAOC, provide access and proper facilities for such purposes. Contractor If this Agreement contemplates the use of Subcontractors, Consultant shall ensure that all Subcontractor(s) and Supplier(s), of all tiers, are bound to all provisions of this Articles 2.9Article 15. Records must be retained and maintained available throughout the period of the performance of the Work and for a period of five (5) years after all obligations of the parties under a Service Work Order this Agreement have been met, or until 5 years after final settlement of all Disputes, Claims, or litigation to which the Records relate, whichever event occurs later. If an audit or Owner AOC internal review reveals that the Contractor Consultant has overcharged the OwnerAOC, the Contractor Consultant will immediately pay to the Owner AOC the overcharged amount plus interest from the date of overpayment. The rate of interest will be equal to eighteen percent (18%) per year or the maximum rate permitted by applicable law, whichever is less. The audit or Owner AOC internal review will be conducted at the OwnerAOC’s expense, unless the audit or review reveals that the Contractor Consultant has overcharged the Owner AOC by ten percent (10%) or more on any invoice, in which case the Contractor Consultant will reimburse the Owner AOC for all costs and expenses incurred by the Owner AOC in connection with such audit or review, including direct and indirect costs associated with Owner incurred by AOC employees. The obligations of this Article 2.9 15 shall survive any expiration or termination of this Agreement.