Common use of Final Statements Clause in Contracts

Final Statements. (a) All adjustments resulting from the audit under this Article or any subsequent expert determination or arbitration under Article 46, shall be reflected promptly in the accounts by the Contractor and any consequential adjustments in entitlements shall also be made promptly. (b) Subject to any adjustments resulting from such audits or subsequent expert determination or arbitration under Article 46, the reports and statements shall be considered final and not subject to further audit. Notwithstanding any provision to the contrary in this Agreement, if in a subsequent period an issue or error is identified which relates to any other period or to possible fraud or wilful misconduct to have occurred at any time, the Minister shall have the right to re-examine any reports and statements otherwise considered as final reports and statements or not previously audited.

Appears in 4 contracts

Samples: Production Sharing Agreement, Production Sharing Agreement, Production Sharing Agreement

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