Authority Right to Perform Audits. Inspections, or Attestation Engagements. At any time or times during the Term of this Agreement or within three (3) years after the end of this Agreement, Authority, or its duly authorized representative, will be permitted to initiate and perform audits, inspections or attestation engagements over Company’s records for the purpose of substantiating the accuracy of payments to Authority or Company’s compliance with other provisions of this Agreement. Free and unrestricted access will be granted to all of Company’s records directly pertinent to this Agreement for purposes of substantiating payments or compliance. If the records are maintained at locations other than the Airport, Company will arrange for said records to be brought to a location convenient to Authority auditors to conduct the engagement as set forth in this Article. In the event Company maintains the needed documentation in electronic format, upon request by Authority auditors, Company will provide a download or extract of data files in a computer readable format acceptable to Authority at no additional cost. Authority has the right during the engagement to interview Company’s employees, subconsultants, and subcontractors, and to make photocopies of records as needed. If, as a result of any engagement, it is established that Company owes additional fees or charges to Authority, Company will pay such additional fees and charges and Authority may assess interest in accordance with Article 7.04. SAMPLE Company agrees to deliver or provide access to all records requested by Authority auditors within seven (7) calendar days of each request. The Parties recognize that Authority will incur additional costs if records requested by Authority auditors are not provided in a timely manner and that the amount of those costs is difficult to determine with certainty. Consequently, the Parties agree that Authority may assess liquidated damages in the amount of one hundred dollars ($100.00), in addition to all other contractual financial requirements, for each item in a records request, per calendar day, for each time Company is late in submitting requested records to perform the engagement. Accrual of fee will continue until specific performance is accomplished. The Parties expressly agree that these liquidated damages are not a penalty and represent reasonable estimates of fair compensation for the losses that reasonably may be anticipated from Company’s failure to comply.
Authority Right to Perform Audits. Inspections, or Attestation Engagements At any time or times during the term of the Contract or within three (3) years after the end of the Contract, Authority, or its duly authorized representative, will be permitted to initiate and perform audits, inspections or attestation engagements over Company’s records for the purpose of determining payment eligibility under the Contract or over selected operations performed by Company under this Contract for the purpose of determining compliance with the Contract. Such audits, inspections or attestation engagements will take place at a time and location agreed upon by the parties and be limited in scope to those records of Company directly pertinent to this Contract, but expressly excluding records that Company reasonably considers proprietary and/or confidential. The Company maintains its accounting or Contract information in electronic format, and upon request by Authority auditors, Company will provide a download or extract of data files in a computer readable format acceptable to the Authority at no additional cost. Authority has the right during the engagement to interview Company’s employees, subconsultants, and subcontractors, and to make photocopies of records as needed. Company agrees to deliver or provide access to all records requested by Authority auditors within fourteen (14) calendar days of the request at the initiation of the engagement and to deliver or provide access to all other records requested during the engagement within seven (7) calendar days of each request. The parties recognize that Authority will incur additional costs if records requested by Authority auditors are not provided in a timely manner and that the amount of those costs is difficult to determine with certainty. Consequently, the Parties agree Authority may assess liquidated damages in the amount of one hundred dollars ($100.00) per day, for each records request not received, not to exceed, one thousand four hundred dollars ($1,400.00) per records request. This liquidated damage rate is an exclusive remedy related to records requests, but is not an exclusive remedy for audit issues identified and Authority retains all rights, including but not limited to, its rights to elect its remedies and pursue all legal and equitable remedies in relation to identified audit issues. The Parties expressly agree that these liquidated damages are not a penalty and represent reasonable estimates of fair compensation for the losses that reason...
Authority Right to Perform Audits. Inspections, or Attestation Engagements. At any time or times during the Term of this Agreement or within five (5) years after the end of this Agreement, the Authority, FAA, Federal Highway Administration, FDOT, FEMA, Florida Auditor General, Florida Inspector General, Florida Chief Financial Officer, and the Comptroller General of the United States, or any duly authorized representative of each (Auditors), have the right to initiate and perform audits, inspections or attestation engagements over Companys records for the purpose of substantiating the accuracy of payments to Authority or Companys compliance with other provisions of this Agreement. Free and unrestricted access will be granted to all of Companys records directly pertinent to this Agreement for purposes of substantiating payments or compliance. If the records are maintained at locations other than the Airport, Company will arrange for said records to be brought to a location convenient to Auditors or will provide records electronically in a computer-readable format acceptable to the Auditors at no additional cost to conduct the engagement as set forth in this Article. Company shall allow Auditors to photocopy any records the Auditors determine to be necessary to conduct and support the engagement. Company shall not charge Authority for any cost of retrieving, downloading to storage media and/or printing any records or transactions stored in electronic format. Company agrees to deliver or provide access to all records requested by Authority auditors within seven (7) calendar days of each request. The Parties recognize that Authority will incur additional costs if records requested by Authority auditors are not provided in a timely manner and that the amount of those costs is difficult to determine with certainty. Consequently, the Parties agree that Authority may assess liquidated damages in the amount of one hundred dollars ($100.00), in addition to all other contractual financial requirements, for each item in a records request, per calendar day, for each time Company is late in submitting requested records to perform the engagement. Accrual of such damages will continue until specific performance is accomplished. These liquidated damages are not an exclusive remedy and Authority retains its rights, including but not limited to, its rights to elect its remedies and pursue all legal and equitable remedies. The Parties expressly agree that these liquidated damages are not a penalty and repre...
Authority Right to Perform Audits. Inspections, or Attestation Engagements At any time or times during the term of the Contract or within three (3) years after the end of the Contract, Authority, or its duly authorized representative, will be permitted to initiate and perform audits, inspections or attestation engagements over Company’s records for the purpose of determining payment eligibility under the Contract or over selected operations performed by Company under this Contract for the purpose of determining compliance with the Contract. Upon prior written notice, at a mutually agreeable date and time, during regular business hours, free and unrestricted access will be granted to all of Company’s records directly pertinent to this Contract or any work order, as well as records of parent, affiliate and subsidiary companies and any subconsultants or subcontractors. Such records shall be limited to: (i) all quotations and purchase orders issued between Company and Authority, (ii) warranty documents, (iii) correspondence between the parties, (iv) Authority’s RFQs, (v) Company’s quotations and bids, (vi) Company’s invoices to Authority, (vii) proof of delivery,
