Common use of LANGUAGE AND UNITS OF ACCOUNTS Clause in Contracts

LANGUAGE AND UNITS OF ACCOUNTS. 1.3.1. All books of account shall be maintained in the English language and in United States dollars. Where necessary for clarification, the Contractor may also maintain accounts and records in other language and currencies, provided that such accounts and records shall be prepared in accordance with US GAAP accounting rules and shall be consistent with the generally accepted standards of the international petroleum industry.

LANGUAGE AND UNITS OF ACCOUNTS. 1.3.1. All books of account shall be maintained in the English language and in United States dollars. Where necessary for clarification, the Contractor contractor may also maintain accounts and records in other language and currencies, provided that such accounts and records shall be prepared in accordance with US GAAP accounting rules and shall be consistent with the generally accepted standards of the international petroleum industry.