Common use of Record Maintenance Clause in Contracts

Record Maintenance. The Recipient will keep and maintain for a period of seven years from their creation: (a) proper and accurate financial accounts and records, kept in a manner consistent with generally accepted accounting principles in effect in Canada or with the public sector accounting standards approved or recommended by the Public Sector Accounting Board including, without limitation, its contracts, invoices, statements, receipts, and vouchers and any other evidence of payment relating to the Funds or otherwise to the MTEC; and (b) all non-financial records and documents relating to the Funds or otherwise to the MTEC.

Record Maintenance. The Recipient will keep and maintain for a period of seven years from their creation: (a) proper all financial records (including invoices and accurate financial accounts and records, kept in a manner consistent with generally accepted accounting principles in effect in Canada or with the public sector accounting standards approved or recommended by the Public Sector Accounting Board including, without limitation, its contracts, invoices, statements, receipts, and vouchers and any other evidence of payment payment) relating to the Funds or otherwise to the MTECProject in a manner consistent with either international financial reporting standards or generally accepted accounting principles or any other accounting principles that apply to the Recipient; and (b) all non-financial records and documents relating to the Funds or otherwise to the MTECProject.