Common use of Billing Audits Clause in Contracts

Billing Audits. 11.4.1 Subject to the terms and conditions of this Section 11.4, Section 19 of the General Terms and Conditions, and the reasonable security requirements of each Party, except as may be otherwise specifically provided in this Agreement, each Party ("Auditing Party") may audit the other Party's ("Audited Party") books, records and documents which relate to the Audited Party's billing to the Auditing Party under this Agreement once each year at the conclusion of each calendar year in order to evaluate the accuracy of the Audited Party's billing. 11.4.2 The audit shall be performed by independent certified public accountants selected and paid for by the Auditing Party. The accountants shall be reasonably acceptable to the Audited Party. Prior to commencing the audit, the accountants shall execute an agreement with the Audited Party that is reasonably acceptable to the Audited Party that protects the confidentiality of the information disclosed by the Audited Party to the accountants. The audit shall take place at a time and place agreed upon by the Parties; provided, that the Auditing Party may require that the audit commence no later than sixty (60) days after the Auditing Party has given notice of the audit to the Audited Party. 11.4.3 The Audited Party shall promptly correct any billing error that is revealed in an audit, including back-billing of any underpayments and making a refund, in the form of a billing credit, of any over-payments. Such back- billing and refund shall appear on an Audited Party xxxx to the Auditing Party no later than two months after the Parties have agreed upon the accuracy of the audit results. The Audited Party shall pay interest on any refund of an over-payment from the date the over-payment was received by the Audited Party until the date of the xxxx on which the refund is credited, at a rate of the lesser of one-and-one-half percent (1.5%) per month or the highest rate allowed by Applicable Law. Any dispute concerning audit results shall be resolved pursuant to Section 17 of the General Terms and Conditions. 11.4.4 Each Party shall cooperate fully in any such audit, providing reasonable access to any and all employees, books, records and documents, reasonably necessary to assess the accuracy of the Audited Party's bills. 11.4.5 The Auditing Party may perform a single additional audit of the Audited Party's relevant books, records and documents during any calendar year if the previous audit uncovered uncorrected net inaccuracies in billing in favor of the Audited Party having an aggregate value of at least $500,000. 11.4.6 Audits shall be performed at the Auditing Party's expense, provided that there shall be no charge for reasonable access to the Audited Party's employees, books, records and documents, necessary to assess the accuracy of the Audited Party's bills.

Billing Audits. 11.4.1 Subject to the terms and conditions of this Section 11.4, Section 19 of the General Terms and Conditions, and the reasonable security requirements of each Party, except as may be otherwise specifically provided in this Agreement, each Party ("Auditing Party") may audit the other Party's ("Audited Party") books, records and documents which relate to the Audited Party's billing to the Auditing Party under this Agreement once each year at the conclusion of each calendar year in order to evaluate the accuracy of the Audited Party's billing. 11.4.2 The audit shall be performed by independent certified public accountants selected and paid for by the Auditing Party. The accountants shall be reasonably acceptable to the Audited Party. Prior to commencing the audit, the accountants shall execute an agreement with the Audited Party that is reasonably acceptable to the Audited Party that protects the confidentiality of the information disclosed by the Audited Party to the accountants. The audit shall take place at a time and place agreed upon by the Parties; provided, that the Auditing Party may require that the audit commence no later than sixty (60) days after the Auditing Party has given notice of the audit to the Audited Party. 11.4.3 The Audited Party shall promptly correct any billing error that is revealed in an audit, including back-billing of any underpayments and making a refund, in the form of a billing credit, of any over-payments. Such back- back-billing and refund shall appear on an Audited Party xxxx to the Auditing Party no later than two months after the Parties have agreed upon the accuracy of the audit results. The Audited Party shall pay interest on any refund of an over-payment from the date the over-payment was received by the Audited Party until the date of the xxxx on which the refund is credited, at a rate of the lesser of one-and-one-half percent (1.5%) per month or the highest rate allowed by Applicable Law. Any dispute concerning audit results shall be resolved pursuant to Section 17 of the General Terms and Conditions. 11.4.4 Each Party shall cooperate fully in any such audit, providing reasonable access to any and all employees, books, records and documents, reasonably necessary to assess the accuracy of the Audited Party's bills. 11.4.5 The Auditing Party may perform a single additional audit of the Audited Party's relevant books, records and documents during any calendar year if the previous audit uncovered uncorrected net inaccuracies in billing in favor of the Audited Party having an aggregate value of at least $500,000. 11.4.6 Audits shall be performed at the Auditing Party's expense, provided that there shall be no charge for reasonable access to the Audited Party's employees, books, records and documents, necessary to assess the accuracy of the Audited Party's bills.

Billing Audits. 11.4.1 Subject to the terms and conditions of this Section 11.4, Section 19 of the General Terms and Conditions, and the reasonable security requirements of each Party, except as may be otherwise specifically provided in this Agreement, each Party ("Auditing Party") may audit the other Party's ("Audited Party") books, records and documents which relate to the Audited Party's billing to the Auditing Party under this Agreement once each year at the conclusion of each calendar year in order to evaluate the accuracy of the Audited Party's billing. 11.4.2 The audit shall be performed by independent certified public accountants selected and paid for by the Auditing Party. The accountants shall be reasonably acceptable to the Audited Party. Prior to commencing the audit, the accountants shall execute an agreement with the Audited Party that is reasonably acceptable to the Audited Party that protects the confidentiality of the information disclosed by the Audited Party to the accountants. The audit shall take place at a time and place agreed upon by the Parties; provided, that the Auditing Party may require that the audit commence no later than sixty (60) days after the Auditing Party has given notice of the audit to the Audited Party. 11.4.3 The Audited Party shall promptly correct any billing error that is revealed in an audit, including back-billing of any underpayments and making a refund, in the form of a billing credit, of any over-payments. Such back- back-billing and refund shall appear on an Audited Party xxxx bill to the Auditing Party no later than two months after the Parties have agreed upon the accuracy of the audit results. The Audited Party shall pay interest on any refund of an over-payment from the date the over-payment was received by the Audited Party until the date of the xxxx bill on which the refund is credited, at a rate of the lesser of one-and-one-half percent (1.5%) per month or the highest rate allowed by Applicable Law. Any dispute concerning audit results shall be resolved pursuant to Section 17 of the General Terms and Conditions. 11.4.4 Each Party shall cooperate fully in any such audit, providing reasonable access to any and all employees, books, records and documents, reasonably necessary to assess the accuracy of the Audited Party's bills. 11.4.5 The Auditing Party may perform a single additional audit of the Audited Party's relevant books, records and documents during any calendar year if the previous audit uncovered uncorrected net inaccuracies in billing in favor of the Audited Party having an aggregate value of at least $500,000. 11.4.6 Audits shall be performed at the Auditing Party's expense, provided that there shall be no charge for reasonable access to the Audited Party's employees, books, records and documents, necessary to assess the accuracy of the Audited Party's bills.