Common use of Recipient to keep books and records Clause in Contracts

Recipient to keep books and records. The Recipient must: (a) keep and require its subcontractors and the Project Partners to keep adequate books and records, in accordance with Accounting Standards, in sufficient detail to enable: (i) all receipts and payments related to the Project to be identified and reported in accordance with this Agreement; and (ii) the amounts payable by the Commonwealth under this Agreement to be determined; and (b) retain and require its subcontractors and the Project Partners to retain for a period of seven years after the expiry or termination of this Agreement, all books and records relating to the Project.

Recipient to keep books and records. The Recipient mustmust during the Project: (a) keep and require its subcontractors and the Project Partners to keep adequate books and records, in accordance with Accounting Standards, in sufficient detail to enable: (i) all receipts and payments related to the Project to be identified and reported in accordance with this Agreement; and (ii) the amounts payable by the Commonwealth under this Agreement to be determined; and (b) retain and require its subcontractors and the Project Partners to retain for a period of seven years after the expiry Project End Date or earlier termination of this Agreement, all books and records relating to the Project.