Common use of Language and Units of Account Clause in Contracts

Language and Units of Account. All accounts, records, books, reports and Statements shall be maintained and prepared in the English language using mercantile basis of accounting. The accounts shall be maintained in United States Dollars, which shall be the controlling currency of account for cost recovery, and profit sharing purposes. Metric units and Barrels shall be employed for measurements required under the Contract. Where necessary for clarification, the Contractor may also maintain accounts and records in other languages, currencies and units.

Language and Units of Account. All accounts, records, books, reports and Statements shall be maintained and prepared in the English language using mercantile basis of accountinglanguage. The accounts shall be maintained in United States Dollars, which shall be the controlling currency of account for cost recovery, production sharing and profit sharing participation purposes. The accounts shall also be maintained in Indian Rupees. Metric units and Barrels shall be employed for measurements required under the Contract. Where necessary for clarification, the Contractor may also maintain accounts and records in other languages, currencies and units.

Language and Units of Account. All accounts, records, books, reports and Statements shall be maintained and prepared in the English language using mercantile basis of accountinglanguage. The accounts shall be maintained in Indian Rupees and United States Dollars, which shall be the controlling currency of account for cost recovery, and profit sharing purposes. Metric units and Barrels shall be employed for measurements required under the Contractaccounts. Where necessary for clarification, the Contractor may also maintain accounts and records in other languages, currencies and units.