Common use of Books, Records and Audits Clause in Contracts

Books, Records and Audits. A. Contractor shall keep full and detailed books, construction logs, records, daily reports, schedules, accounts, payroll records, receipts, invoices, statements, electronic files, correspondence and other pertinent documents as may be necessary for proper management under this Agreement, as required under Applicable Law or this Agreement, and in any way relating to this Agreement (“Books and Records”). Contractor shall maintain all such Books and Records in accordance with GAAP and shall retain all such Books and Records for a minimum period of three (3) years after Final Completion and with respect to any matters related to Taxes, until the expiration of the constitutional or statutory period in which an applicable Governmental Instrumentality may examine or audit Contractor or Owner for any such Taxes, or such greater period of time as may be required under Applicable Law.