Common use of RECORDS RETENTION AND INSPECTION Clause in Contracts

RECORDS RETENTION AND INSPECTION. 1. CONSULTANT shall maintain accurate and complete financial records of its activities and operations relating to this Agreement in accordance with generally accepted accounting principles. CONSULTANT shall also maintain accurate and complete employment and other records relating to its performance of this Agreement. CONSULTANT agrees that COUNTY, or its authorized representatives, shall have access to and the right to examine, audit, excerpt, copy, or transcribe any pertinent transaction, activity, or record relating to this Agreement. Upon receipt of a written request, CONSULTANT shall, at no cost to COUNTY, make available to COUNTY and all authorized representatives for examination, audit, excerpt, copy or transcription any pertinent transaction, activity, time card or other record relating to this Agreement. Failure on the part of CONSULTANT to comply with the provisions of this Paragraph shall constitute a material breach of this Agreement upon which COUNTY may terminate or suspend this Agreement. Such material, including books, records, documents, case files and all pertinent costs, accounting, financial records, and proprietary data must be kept and maintained during the term of this Agreement and for a period of five (5) years thereafter, or until such time as all audits are completed, whichever is later. COUNTY may require specific records be retained longer than five (5) years when there is outstanding litigation, unresolved disputes or any audit. 2. Upon expiration or cancellation of this Agreement, all documents, reports, records, case files, correspondence, and work product relating to CONSULTANT's operations under this Agreement shall be returned to COUNTY or to such other location in COUNTY as the County Contract Manager may direct. It is understood that all of the materials described above are the property of COUNTY and not of CONSULTANT. 3. In the event that an audit specifically regarding this Agreement is conducted by any Federal or state auditor, or any auditor or accountant employed by CONSULTANT or otherwise, CONSULTANT shall file a copy of each such audit report with the COUNTY's Auditor-Controller, with a copy to the County Contract Manager, within thirty (30) days after CONSULTANT's receipt thereof unless otherwise provided by applicable Federal or state law or under this Agreement. Subject to applicable law, COUNTY shall make a reasonable effort to maintain the confidentiality of such audit report(s). 4. Failure on the part of the CONSULTANT to comply with any of the provisions of this Section KK shall constitute a material breach of this Agreement upon which COUNTY may terminate or suspend this Agreement. 5. If, at any time during the term of this Agreement or within five (5) years after the expiration or termination of this Agreement, representatives of the County conduct an audit of CONSULTANT regarding the work performed under this Agreement, and if such audit finds that the COUNTY’s dollar liability for any such work is less than payments made by the COUNTY to CONSULTANT, then the difference shall be either: a) repaid by CONSULTANT to the COUNTY by cash payment upon demand or b) at the sole option of the COUNTY’s Auditor-Controller, deducted from any amounts due to CONSULTANT from COUNTY, whether under this Agreement or otherwise. If such audit finds that the COUNTY’s dollar liability for such work is more than the payments made by the COUNTY to CONSULTANT then the difference shall be paid to CONSULTANT by COUNTY by cash payment, provided that in no event shall the COUNTY’s maximum obligation for this Agreement exceed the funds appropriated by the COUNTY for the purpose of this Agreement.

RECORDS RETENTION AND INSPECTION. 1. CONSULTANT The CMAR shall maintain accurate make available at its office all CMAR books, documents, papers, drawings and complete financial records of its activities and operations relating to this Agreement in accordance with generally accepted Project for audit, inspection, excerpt, reproduction, or transcription by any authorized representative of the Owner, CMARs and subcontractors’ books, records, correspondence, accounting principles. CONSULTANT shall also maintain accurate procedures and complete employment practices, and any other records supporting evidence relating to this Contract, including the papers of any CMAR and Subcontractor employee who works on the Contract, to ensure that the CMAR and its Subcontractor are complying with the warranty under Item 48 below (all the foregoing hereinafter referred to as the Records), shall be open to inspection and subject to audit and/or reproduction during normal working hours to the extent necessary to adequately permit (1) evaluation and verification of any invoices, payments or claims based on CMARs and its Subcontractors actual costs (including direct and indirect costs and overhead allocations) incurred, or units expended directly in the performance of work under this AgreementContract and (2) evaluation of the CMARs and Subcontractors compliance with the Arizona employer sanctions laws referenced Paragraph 3.3.4 of the General Conditions. CONSULTANT agrees that COUNTYTo the extent necessary for the audit of Records as set forth in this Section, CMAR and it Subcontractors hereby waive any rights to keep such Records confidential. For the purpose of evaluating or its authorized representativesverifying such actual or claimed costs or units expended, the Authority shall have access to said Records from the effective date of this Contract for the duration of the work and until five years after the right date of final payment by the Authority to examine, audit, excerpt, copy, or transcribe any pertinent transaction, activity, or record relating CMAR pursuant to this AgreementContract. Upon receipt The Authority shall have access, during normal working hours, to all necessary CMAR and Subcontractor facilities, and shall be provided adequate and appropriate workspace, in order to conduct audits in compliance with the provisions of a written request, CONSULTANT shall, at no cost to COUNTY, make available to COUNTY and all authorized representatives for examination, audit, excerpt, copy this subsection. The Authority shall give CMAR or transcription any pertinent transaction, activity, time card or other record relating to this AgreementSubcontractor reasonable advance notice of intended audits. Failure on the part of CONSULTANT CMAR shall require its Subcontractors to comply with the provisions of this Paragraph subsection by insertion of the requirements hereof in any subcontract pursuant to this Contract. If any information required of the CMAR or a Subcontractor is in the exclusive possession of another who fails or refuses to furnish this information, the CMAR shall constitute a material breach so certify to the Owner, FAA, ADOT Aeronautics, EDA and the Office of this Agreement upon which COUNTY may terminate Inspector General, or suspend this Agreement. Such material, including books, records, documents, case files and all pertinent costs, accounting, financial recordsthe Comptroller General of the United States, and proprietary data must be kept and maintained during shall set forth what efforts it has made to obtain the term of this Agreement and for a period of five (5) years thereafter, or until such time as all audits are completed, whichever is later. COUNTY may require specific records be retained longer than five (5) years when there is outstanding litigation, unresolved disputes or any auditinformation. 2. Upon expiration or cancellation of this Agreement, all documents, reports, records, case files, correspondence, and work product relating to CONSULTANT's operations under this Agreement shall be returned to COUNTY or to such other location in COUNTY as the County Contract Manager may direct. It is understood that all of the materials described above are the property of COUNTY and not of CONSULTANT. 3. In the event that an audit specifically regarding this Agreement is conducted by any Federal or state auditor, or any auditor or accountant employed by CONSULTANT or otherwise, CONSULTANT shall file a copy of each such audit report with the COUNTY's Auditor-Controller, with a copy to the County Contract Manager, within thirty (30) days after CONSULTANT's receipt thereof unless otherwise provided by applicable Federal or state law or under this Agreement. Subject to applicable law, COUNTY shall make a reasonable effort to maintain the confidentiality of such audit report(s). 4. Failure on the part of the CONSULTANT to comply with any of the provisions of this Section KK shall constitute a material breach of this Agreement upon which COUNTY may terminate or suspend this Agreement. 5. If, at any time during the term of this Agreement or within five (5) years after the expiration or termination of this Agreement, representatives of the County conduct an audit of CONSULTANT regarding the work performed under this Agreement, and if such audit finds that the COUNTY’s dollar liability for any such work is less than payments made by the COUNTY to CONSULTANT, then the difference shall be either: a) repaid by CONSULTANT to the COUNTY by cash payment upon demand or b) at the sole option of the COUNTY’s Auditor-Controller, deducted from any amounts due to CONSULTANT from COUNTY, whether under this Agreement or otherwise. If such audit finds that the COUNTY’s dollar liability for such work is more than the payments made by the COUNTY to CONSULTANT then the difference shall be paid to CONSULTANT by COUNTY by cash payment, provided that in no event shall the COUNTY’s maximum obligation for this Agreement exceed the funds appropriated by the COUNTY for the purpose of this Agreement.

RECORDS RETENTION AND INSPECTION. 1. CONSULTANT 47.1 CONTRACTOR shall maintain accurate and complete financial records of its activities and operations relating to this Agreement in accordance with generally accepted accounting principles. CONSULTANT CONTRACTOR shall also maintain accurate and complete employment and other records relating to its performance of this Agreement. CONSULTANT CONTRACTOR agrees that COUNTY, State, or its Federal governments, or their authorized representatives, shall have access to and the right to examine, audit, excerpt, copy, or transcribe any pertinent transaction, activity, or record records relating to this Agreement. Upon receipt of a written request, CONSULTANT shall, at no cost COUNTY reserves the right to COUNTY, make available to COUNTY conduct record inspection and all authorized representatives for examination, audit, excerpt, copy or transcription any pertinent transaction, activity, time card or other record audits relating to this AgreementAgreement with no advance notification to CONTRACTOR. Failure on the part of CONSULTANT to comply with the provisions of this Paragraph shall constitute a material breach of this Agreement upon which COUNTY may terminate or suspend this Agreement. Such All such material, including booksincluding, but not limited to, all financial records, supporting documents, case files statistical records, timecards and all pertinent costs, accounting, financial other employment records, and proprietary data must and information, shall be kept and maintained by the CONTRACTOR and shall be made available to COUNTY, State or Federal authorities during the term of this Agreement and for a period of five (5) years thereafter, or until such time as all audits are completed, whichever is later. COUNTY may require specific records be retained longer than If before the expiration of that five (5) years when there is outstanding year time period, any litigation, unresolved disputes claim, financial management review, or audit is started, the records shall be retained until all litigation, claims, or audit findings involving the records have been resolved and final action taken All such material shall be maintained by CONTRACTOR at a location in Los Angeles County, provided that if any auditsuch material is located outside Los Angeles County, then, at COUNTY’s option, CONTRACTOR shall pay COUNTY for travel, per diem, and other costs incurred by COUNTY to exercise its rights under this Section. 2. Upon expiration or cancellation of this Agreement, all documents, reports, records, case files, correspondence, and work product relating to CONSULTANT's operations under this Agreement shall be returned to COUNTY or to such other location in COUNTY as the County Contract Manager may direct. It is understood that all of the materials described above are the property of COUNTY and not of CONSULTANT. 3. 47.2 In the event that an audit of CONTRACTOR is conducted specifically regarding this Agreement is conducted by any Federal or state State auditor, or by any auditor or accountant employed by CONSULTANT CONTRACTOR or otherwise, CONSULTANT then CONTRACTOR shall file a copy of each such audit report with the COUNTY's ’s Auditor-ControllerController within 30 days of CONTRACTOR’s receipt thereof, with a copy to the County Contract Manager, within thirty (30) days after CONSULTANT's receipt thereof unless otherwise provided by applicable Federal or state State law or under this Agreement. Subject to applicable law, COUNTY shall make a reasonable effort to maintain the confidentiality of such audit report(s). 4. 47.3 Failure on the part of the CONSULTANT CONTRACTOR to comply with any of the provisions of this Section KK Subsection 47.0 shall constitute a material breach of this Agreement upon which COUNTY may terminate or suspend this Agreement. 5. 47.4 If, at any time during the term of this Agreement or within five (5) years after the expiration or termination of this Agreement, representatives of the County COUNTY conduct an audit of CONSULTANT CONTRACTOR regarding the work performed under this Agreement, and if such audit finds that the COUNTY’s dollar liability for any such work is less than payments made by the COUNTY to CONSULTANTCONTRACTOR, then the difference shall be either: a) repaid by CONSULTANT CONTRACTOR to the COUNTY by cash payment upon demand or b) at the sole option of the COUNTY’s Auditor-Controller, deducted from any amounts due to CONSULTANT CONTRACTOR from COUNTY, whether under this Agreement or otherwise. If such audit finds that the COUNTY’s dollar liability for such work is more than the payments made by the COUNTY to CONSULTANT CONTRACTOR, then the difference shall be paid to CONSULTANT CONTRACTOR by COUNTY by cash payment, provided that in no event shall the COUNTY’s maximum obligation for this Agreement exceed the funds appropriated Maximum Agreement Amount. 47.5 CONTRACTOR agrees that COUNTY, State and Federal representatives or any duly authorized representatives thereof, shall, at any reasonable time, have access to and the right to examine, monitor, audit, excerpt, copy or transcribe any pertinent transaction, activity, time cards, or other records relating to this Agreement at no cost to COUNTY. Such material, including all pertinent costs, accounting, financial records and proprietary data shall be kept and maintained by CONTRACTOR for a period of five years after the COUNTY for the purpose term of this Agreement, or until audited, whichever is longer. COUNTY may require specific records be retained longer than five years when there is outstanding litigation, unresolved disputes or any audit.