Common use of Records and Audit Clause in Contracts

Records and Audit. Consultant certifies that it meets the applicable audit requirements of the College and maintains books and records as required by the Internal Revenue Service. The College, or its authorized representatives, will, until seven (7) years after final payment under this Agreement, have access to any of Consultant's records related to this Agreement for the purpose of conducting audits. If any unsubstantiated payment or overpayment is discovered as a result of any such audit, Consultant agrees to repay the College within thirty (30) calendar days of a request for repayment or, if the Services are not yet complete, Consultant authorizes the College to reduce any payments due by the amount of the unsubstantiated payment or overpayment. The period of access for records will continue after all disputes are settled.

Records and Audit. Consultant certifies that it he/she meets the applicable audit requirements of the College and maintains books and records as required by the Internal Revenue Service. The College, or its authorized representatives, will, until seven (7) years after final payment under this Agreement, have access to any of Consultant's records related to this Agreement for the purpose of conducting audits. If any unsubstantiated payment or overpayment is discovered as a result of any such audit, Consultant agrees to repay the College within thirty (30) calendar days of a request for repayment or, if the Services are not yet complete, Consultant authorizes the College to reduce any payments due by the amount of the unsubstantiated payment or overpayment. The period of access for records will continue after all disputes are settled.