Common use of Periodic Certification of Compliance Clause in Contracts

Periodic Certification of Compliance. On or before July 1 of the calendar year following the certification period defined in §1.1471-4(f)(3)(i), the responsible officer of the participating FFI must make either the certification of effective internal controls described in §1.1471-4(f)(3)(ii) or, when required, make the qualified certification under §1.1471-4(f)(3)(iii). The responsible officer must consider the results of the participating FFI’s periodic review in making the periodic certification of compliance.

Periodic Certification of Compliance. On or before July 1 of the calendar year following the end of the certification period defined in §1.1471-4(f)(3)(i), the responsible officer of the participating FFI must make either the certification of effective internal controls described in §1.1471-4(f)(3)(ii) or, when required, make the qualified certification under §1.1471-4(f)(3)(iii). The responsible officer must consider the results of the participating FFI’s periodic review in making the periodic certification of compliance.