Owner's Audit Rights Sample Clauses

Owner's Audit Rights. Owner reserves the right and Contractor shall allow Owner to audit, or cause to have audited, any and all items related to aspects of this Agreement to assure Contractor's compliance therewith. These items shall include, but not be limited to, property, books, records, and computerized data files. This provision shall remain in effect for two (2) years following final payment for the Work described in this Agreement. This provision does not apply to the calculations used to determine firm lump sum prices for Work performed under this Agreement except to the extent that knowledge of the amount of taxable portions of Contractor's invoicing is necessary.

Owner's Audit Rights. Contractor shall maintain all Project-related records (“Project Records”) for a period of two (2) years after Final Completion (“Retention Period”). Owner shall have the right to audit, copy and inspect all such Project Records, including all electronic records, files and renderings which are retained in computers or on diskettes, at all reasonable times during the course of the Work and during the Retention Period. Project Records shall be made available to the Owner at all times to assist Owner in the resolution of any issues pertaining to Change Orders based on time and expense, claims, other issues pertaining to an increase or decease in the Contract Price and/or the Contract Time, or compliance with Owner’s business ethics policies.

Owner's Audit Rights. § 2.6.1 The Contractor shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under this Contract, and the accounting and control systems shall be satisfactory to the Owner. The Contractor shall develop a system of cost control for the Work, including regular monitoring of actual costs for activities in progress and estimates for uncompleted tasks and proposed changes. The Contractor shall identify § 2.6.2 The Contractor’s records, which shall include but not be limited to accounting records, written policies and procedures, subcontractor files (including proposals of successful and unsuccessful bidders), original estimates, estimating work sheets, correspondence, change order files (including documentation covering negotiated settlements), and any other supporting evidence necessary to substantiate charges related to the Contract shall be open to inspection and subject to audit and/or reproduction, during normal working hours, by the Owner’s agents or authorized representatives. Such records subject to examination shall also include, but not be limited to, those records necessary to evaluate and verify direct and indirect costs (including overhead allocations) as they may apply to costs associated with the Contract and records relating to the performance of the Work. The Contractor shall preserve such records for a period of at least three years following the date of Final Acceptance under the Contract and for such longer period as may be required by any other provision of the Contract § 2.6.3 For the purpose of such audits, inspections, examinations and evaluations, the Owner’s agents or authorized representatives shall have access to said records from the commencement of the Contract for the duration of the Work and thereafter. § 2.6.4 The Owner’s agents or authorized representatives shall have access to all of the Cont databases where such records are located, and shall be provided adequate and appropriate w conduct audits in compliance with this section.

Owner's Audit Rights. Consultant shall maintain, and require its subconsultants of any tier to maintain, detailed records pertaining to all Reimbursable Expenses. For a period of no less than four (4) years after the termination or final completion of the Agreement, such records shall be made available to Owner and its authorized representatives for purposes of audit promptly after receipt of written notice from Owner.

Owner's Audit Rights. The Manager shall cooperate with, and make all Hotel Records available to, any auditor, independent accountant, agent or other person designated from time to time by the Owner and the Owner shall at all times have the right to conduct, or cause to be conducted, audits and examinations of the Hotels Records. The cost of all such audits and examinations shall be Hotels Expenses.

Owner's Audit Rights. Consultant shall maintain, and require its employees and agents, or others for whom the Consultant is legally liable under this Agreement to maintain detailed records of all its Services, including Additional Services, Reimbursable Expenses and personnel hours expended during the course of such Services. Such financial records shall be kept in accordance with generally accepted accounting principles and shall be promptly made available to Owner and its authorized representatives for purposes of audit promptly after receipt of written notice from Owner.

Owner's Audit Rights. The Construction Manager’s records shall be open to inspection and subject to audit or reproduction by the Owner or Owner’s agent or its authorized representative (at Owner’s expense) to the extent necessary to adequately permit, at reasonable times after reasonable notice, verification of Cost of the Work. Construction Manager’s records shall be maintained and made available to the Owner or Owner’s agent for not less than three (3) years after date of final completion, unless extended by written request of the Owner. The Construction Manager shall require all subcontractors and material suppliers (payees) to comply with the provisions of this article by insertion of the requirements hereof in a written contract agreement between the Construction Manager and payee. The Construction Manager will cooperate and will cause all of the Construction Manager’s subcontractors to cooperate in furnishing or in making available to Owner, at reasonable times upon reasonable notice, information, materials, and data. Except in the event of termination under Article 14, these provisions shall not apply to lump sum subcontracts, purchase orders (including lump sum change orders) and lump sum GMP line items. The Owner or its authorized representative shall have reasonable access to the Construction Manager’s facilities, shall have reasonable access to all necessary Construction Manager’s records, and shall be provided adequate and appropriate work space, in order to conduct audits in compliance with this article. If an audit inspection or examination in accordance with this article, discloses overcharges (net of any undercharges) by the Construction Manager to the Owner in excess of one percent (1%) of the total contract, the Construction Manager shall pay the Owner the actual proven net overcharge plus the cost actually paid by the Owner for the audit. Construction Manager shall not be responsible for the cost of any contingent fee audits. Interest on any overpayments to the Construction Manager shall be recoverable by the Owner at the legal rate.

Owner's Audit Rights. Contractor shall maintain all Project-related records, including but not limited to the following: (1) all correspondence; (2) books of account (kept in accordance with generally accepted accounting procedures); (3) electronic files, change order and claim files, subcontract files, vendor files; (4) daily reports; (5) RFI and change order logs; (6) shop drawings, schedules, schedule updates; and (7) all other schedule-related data, minutes of meetings, monthly reports and all other supporting documentation pertaining to Work performed by Contractor under this Agreement (the “Project Records”). Contractor shall maintain all Project Records for a period of two (2) years after Final Completion (“Retention Period”). Owner shall have the right to audit, copy and inspect all such Project Records, including all electronic records, files and renderings which are retained in computers or on diskettes, at all reasonable times during the course of the Work and during the Retention Period to the full extent as may be necessary to assist Owner in the resolution of any issues pertaining to Change Orders based on time and expense, Claims, or any other issues pertaining to an increase or decrease in the Contract Price and/or the Contract Time. Further, Owner shall have access at all reasonable times to records necessary for evaluation and verification of cost or pricing data with respect to the following: (1) all negotiated Change Orders to this Agreement; (2) instances where the parties are unable to resolve cost data or scheduling issues pertaining to pending Change Orders (3) instances where the parties are unable to resolve cost data or scheduling issues pertaining to any pending Change Order Claims; and (4) compliance with Owner's business ethics policies.

Owner's Audit Rights. § 2.6.1 The Contractor shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under this Contract, and the accounting and control systems shall be satisfactory to the Owner. The Contractor shall develop a system of cost control for the Work, including regular monitoring of actual costs for activities in progress and estimates for uncompleted tasks and proposed changes. The Contractor shall identify variances between actual and estimated costs and report the variances to the Owner and the Architect at regular intervals, using Contractor’s job-cost tracking system. § 2.6.2 The Contractor’s records, which shall include but not be limited to accounting records, written policies and procedures, subcontractor files (including proposals of successful and unsuccessful bidders), original estimates, estimating work sheets, correspondence, change order files (including documentation covering negotiated settlements), and any other supporting evidence necessary to substantiate charges related to the Contract shall be open to inspection and subject to audit and/or reproduction, during normal working hours, by the Owner’s agents or authorized representatives. Such records subject to examination shall also include, but not be limited to, those records necessary to evaluate and verify direct and indirect costs (including overhead allocations) as they may apply to costs associated with the Contract and records relating to the performance of the Work. The Contractor shall preserve such records for a period of at least three years following the date of Final Acceptance under the Contract and for such longer period as may be required by any other provision of the Contract ractor ork sp ’s fa ace, onferred up § 2.6.3 For the purpose of such audits, inspections, examinations and evaluations, the Owner’s agents or authorized representatives shall have access to said records from the commencement of the Contract for the duration of the Work and thereafter. § 2.6.4 The Owner’s agents or authorized representatives shall have access to all of the Cont databases where such records are located, and shall be provided adequate and appropriate w conduct audits in compliance with this section.

Owner's Audit Rights. The Design/Builder shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under this Part 2 Agreement, and the accounting and control systems shall be satisfactory to the Owner. The Owner or its representatives shall have the right to audit, examine, and copy, at reasonable times and places, all records, books, correspondence, instructions, drawings, receipts, subcontracts, purchase orders, vouchers, memoranda and other data relating to this Part 2 Agreement, the Project and the Work, and the Design/Builder shall preserve these for a period of three (3) years after final payment, or for such longer period as may be required by law; provided, however, that such right shall be limited to the extent Owner deems necessary to determine or confirm matters relating to any adjustment to the Guaranteed Maximum Price (whether arising from changes in the Work or otherwise) or the cost of any Work performed on a cost plus or time and materials basis. The Design/Builder shall require the Architect, Engineers and all contractors to comply with the provision of this Section 14.15 by insertion of the provisions hereof in each subcontractor; provided, however, that the Owner’s right to review and audit records of lump sum subcontractors shall be limited to the extent necessary to confirm adjustments in the subcontract amounts or for any work performed on a cost plus or time and material basis. If any inspection or audit by the Owner reveals an overcharge, the Design/Builder shall pay the Owner upon demand an amount equal to such overcharge, as reimbursement for said overcharge (whether before or after final payment).