Common use of MODELDOCUMEN Clause in Contracts

MODELDOCUMEN. The Contractor is required to retain records which shall include, but not be limited to, copies of all plans, specifications, submittals, correspondence, email, minutes, memoranda, audio or visual recordings, videos, policies, procedures, accounting records and other data, regardless of type and regardless of whether such items are in written form, in the form of electronic data, or in any other form, which document the Project, its design, and its construction, and all costs relating thereto, and that in Princeton University’s judgment have any bearing on or pertain to any matters, rights, duties or obligations under or covered by the Contract. The Contractor shall retain all records relating to this Contract until the expiration of seven (7) years after final payment is made under this Contract or for any longer period of time as may be required by law or good business practice, or six (6) months after final resolution (by non-appealable judgment or settlement) of any disputes, whichever may be later. Upon the request of Princeton University, and by no later than three (3) days from written notice, the Contractor shall make its records available during normal business hours to Princeton University, its authorized representative(s) or to any state, federal or other regulatory authority. Any such authority, Princeton University, and its authorized representative(s) shall be entitled to inspect, examine, review, copy, and audit the Contractor’s records at its own expense, within adequate work space at the Contractor’s facilities. Failure by the Contractor to supply substantiating records shall be reason to exclude the related costs from amounts which might otherwise be payable by Princeton University to the Contractor pursuant to the Contract.

MODELDOCUMEN. The Contractor is required to retain records which shall include, but not be limited to, copies of all plans, specifications, submittals, correspondence, email, minutes, memoranda, audio or visual tape recordings, videos, policies, procedures, accounting records and other data, regardless of type and regardless of whether such items are in written form, in the form of electronic data, or in any other form, which document the Project, its design, and its construction, and all costs relating thereto, and that in Princeton University’s judgment have any bearing on or pertain to any matters, rights, duties or obligations under or covered by the Contract. The Contractor shall retain all records relating to this Contract until the expiration of seven (7) years after final payment is made under this Contract or for any longer period of time as may be required by law or good business practice, or six (6) months after final resolution (by non-appealable judgment or settlement) of any disputes, whichever may be later. Upon the request of Princeton University, and by no later than three (3) days from written notice, the Contractor shall make its records available during normal business hours to Princeton University, its authorized representative(s) or to any state, federal or other regulatory authority. Any such authority, Princeton University, and its authorized representative(s) shall be entitled to inspect, examine, review, copy, and audit the Contractor’s records at its own expense, within adequate work space at the Contractor’s facilities. Failure by the Contractor to supply substantiating records shall be reason to exclude the related costs from amounts which might otherwise be payable by Princeton University to the Contractor pursuant to the Contract.