Common use of Records of Defined Cost to be kept by the Contractor Clause in Contracts

Records of Defined Cost to be kept by the Contractor. In order to substantiate the Defined Cost of Compensation Events, the Employer may require the Contractor to keep records of amounts paid by him for people employed by the Contractor, Plant and Materials, work subcontracted by the Contractor and Equipment. The Contractor’s Site Manager will complete the site daily log and this will be submitted to the Service Manager for his signature before 12 am of the following morning barring weekends. The Friday and weekend logs will be submitted before 12 am Mondays. The log will include but not be limited to the following: • Date and day. • Weather. • Site Conditions. • Work Done. • People who are employed by the Contractor • Work sub-contracted by the Contractor • Any incidents during that period. Any communication and documentation during this service agreement to be filed in the contract file. This file is in the possession of the Service Manager at all times.