Common use of Justification of costs Clause in Contracts

Justification of costs. Eligible costs shall be reimbursed where they are justified by the beneficiary. To this end, the beneficiary shall maintain, on a regular basis and in accordance with the normal accounting conventions of the State in which it is established, the accounts for the project and appropriate documentation to support and justify in particular the costs and time reported in its financial statements. These accounts shall be maintained for at least 5 years after the date of the final payment. All the working time charged to the agreement shall be recorded throughout the duration of the project, or not later than 60 days from the end of the duration of the project, and shall be certified by the person in charge of the work as designated by the beneficiary in accordance with Article II.3(b) or by the duly authorised financial officer of the beneficiary. This documentation shall be precise, complete and effective.