Common use of Record Retention and Audit Rights Clause in Contracts

Record Retention and Audit Rights. Contractor shall, maintain accurate books, records, documents and other evidence concerning Contractor’s financial status, billing and service records regarding the provision of the Service, Devices and other Equipment under this Agreement (collectively, “Records”) for the latter of five (5) years after the final payment under this Agreement or such period (if any) as is required by applicable statue or for such period (if any) as set forth in the RFP. Contractor’s accounting procedures and practices shall conform to generally accepted accounting principles (“GAAP”) and the costs properly applicable to this Agreement shall be readily ascertainable therefrom. The State of Georgia, by and through the GTA or State Auditor, shall have the right, exercisable at any reasonable time during normal business hours, to inspect and audit any Records. Upon request, Contractor shall deliver the required documentation and records on the date and at the location specified by GTA or State Auditor or other duly authorized officer of the State of Georgia.

Record Retention and Audit Rights. Contractor shall, and shall cause each of its subcontractors to, maintain accurate books, records, documents and other evidence concerning Contractor’s financial status, billing and service records regarding the provision of the Service, Devices and other Equipment under this Agreement (collectively, “Records”) for the latter of five (5) years after the final payment under this Agreement or such period (if any) as is required by applicable statue or for such period (if any) as set forth in the RFP. Contractor’s accounting procedures and practices shall conform to generally accepted accounting principles (“GAAP”) and the costs properly applicable to this Agreement shall be readily ascertainable therefrom. The State of Georgia, by and through the GTA or State Auditor, shall have the right, exercisable at any reasonable time during normal business hours, to inspect and audit any Records. Upon request, Contractor shall deliver the required documentation and records on the date and at the location specified by GTA or State Auditor or other duly authorized officer of the State of Georgia.