Common use of Financial record retention and audit Clause in Contracts

Financial record retention and audit. HMO agrees to maintain, and require its Subcontractors to maintain, supporting financial information and documents that are adequate to ensure that payment is made and the Experience Rebate is calculated in accordance with applicable Federal and State requirements, and are sufficient to ensure the accuracy and validity of HMO invoices. Such documents, including all original claims forms, will be maintained and retained by HMO or its Subcontractors for a period of five (5) years after the Contract Expiration Date or until the resolution of all litigation, claim, financial management review or audit pertaining to this Contract, whichever is longer.

Financial record retention and audit. HMO agrees to maintain, and require its Subcontractors to maintain, supporting financial records, books, documents, and information and documents (collectively "records") that are adequate to ensure that payment is services are provided and payments are made and the Experience Rebate is calculated in accordance with the requirements of this Contract, including applicable Federal and State requirementsrequirements (e.g., and are sufficient to ensure the accuracy and validity of HMO invoices45 CFR §74.53). Such documents, including all original claims forms, will records must be maintained and retained by HMO or its Subcontractors for a period of five (5) years after the Contract Expiration Date or until the resolution of all litigation, claim, financial management review or audit pertaining to this Contract, whichever is longer.