Common use of RETENTION AND ACCESS REQUIREMENTS FOR RECORDS Clause in Contracts

RETENTION AND ACCESS REQUIREMENTS FOR RECORDS. This provision sets forth requirements for record retention and access to records. As used in this provision, “records” includes books, documents, accounting procedures and practice, and other data, regardless of the type or format. Financial records, supporting documents, statistical records, and all other records pertinent to an award shall be retained for a period of 3 years from the date of submission of the final expenditure report or, for awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, as authorized by FAS. The only exceptions are the following: If any litigation, claim, or audit is started before the expiration of the 3- year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved and final action taken; Records for real property and equipment acquired with Federal funds shall be retained for 3 years after final disposition; When records are transferred to or maintained by FAS, the 3- year retention requirement is not applicable to the Cooperator; Indirect cost rate proposals, cost allocations plans, etc., as specified in paragraph (f) of this provision. Copies of original records may be substituted for the original records if authorized by FAS. FAS will request transfer of certain records to its custody from Cooperators when it determines that the records possess long-term retention value. However, in order to avoid duplicate record keeping, FAS may make arrangements for Cooperators to retain any records that are continuously needed for joint use. XXX, the Inspector General, Comptroller General of the United States, or any of their duly authorized representatives, have the right of timely and unrestricted access to any books, documents, papers, or other records of Cooperators that are pertinent to the awards, in order to make audits, examinations, excerpts, transcripts and copies of such documents. This right also includes timely and reasonable access to a Cooperator’s personnel for the purpose of interview and discussion related to such documents. The Cooperator shall provide access to any program site(s) to FAS or any of its authorized representatives. The rights of access in this paragraph are not limited to the required retention period, but shall last as long as records are retained. No Cooperator shall disclose its records that are pertinent to an award until the Cooperator provides notice of the intended disclosure with copies of the relevant records to FAS. Indirect cost rate proposals, cost allocations plans, etc. Paragraphs (g)(1) and (g)(2) of this provision apply to the following types of documents, and their supporting records: Indirect cost rate computations or proposals, cost allocation plans, and any similar accounting computations of the rate at which a particular group of costs is chargeable (such as computer usage charge back rates or composite fringe benefit rates). If submitted for negotiation. If the Cooperator submits to FAS or the sub cooperators submits to the Cooperator the proposal, plan, or other computation to form the basis for negotiation of the rate, then the 3-year retention period for its supporting records starts on the date of such submission. If not submitted for negotiation. If the Cooperator is not required to submit to FAS or the sub cooperators is not required to submit to the Cooperator the proposal, plan, or other computation for negotiation purposes, then the 3-year retention period for the proposal, plan, or other computation and its supporting records starts at the end of the fiscal year (or other accounting period) covered by the proposal, plan, or other computation. COOPERATOR RESPONSIBILITIES. The standards contained in this provision do not relieve the Cooperator of the contractual responsibilities arising under its contract(s). The Cooperator is the responsible authority, without recourse to FAS, regarding the settlement and satisfaction of all contractual and administrative issues arising out of procurements entered into in support of this Agreement. This includes disputes, claims, award protests, source evaluation or other matters of a contractual nature. Matters concerning violation of statute are to be referred to such Federal, State or local authority, as may have proper jurisdiction.

Appears in 1 contract

Samples: Joint Venture Agreement

AutoNDA by SimpleDocs

RETENTION AND ACCESS REQUIREMENTS FOR RECORDS. (a) This provision section sets forth requirements for record retention and access to recordsrecords for awards to recipients. As used in this provision, “records” includes books, documents, accounting procedures and practice, and HUD shall not impose any other data, regardless of the type record retention or format. access requirements upon recipients. (b) Financial records, supporting documents, statistical records, and all other records pertinent to an award shall be retained for a period of 3 three years from the date of submission of the final expenditure report or, for awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, as authorized by FASHUD. The only exceptions are the following: . (1) If any litigation, claim, or audit is started before the expiration of the 3- 3-year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved and final action taken; . (2) Records for real property and equipment acquired with Federal funds shall be retained for 3 years after final disposition; . (3) When records are transferred to or maintained by FASHUD, the 3- 3-year retention requirement is not applicable to the Cooperator; recipient. (4) Indirect cost rate proposals, cost allocations allocation plans, etc., . as specified in paragraph §84.53(g). (fc) of this provision. Copies of original records may be substituted for the original records if authorized by FAS. FAS will XXX. (d) HUD shall request transfer of certain records to its custody from Cooperators recipients when it determines that the records possess long-long term retention value. However, in order to avoid duplicate record keepingrecordkeeping, FAS HUD may make arrangements for Cooperators recipients to retain any records that are continuously needed for joint use. XXX. (e) HUD, the Inspector General, Comptroller General of the United States, or any of their duly authorized representatives, have the right of timely and unrestricted access to any books, documents, papers, or other records of Cooperators recipients that are pertinent to the awards, in order to make audits, examinations, excerpts, transcripts and copies of such documents. This right also includes timely and reasonable access to a Cooperator’s recipient's personnel for the purpose of interview and discussion related to such documents. The Cooperator shall provide access to any program site(s) to FAS or any of its authorized representatives. The rights of access in this paragraph (e) are not limited to the required retention period, but shall last as long as records are retained. No Cooperator . (f) Unless required by statute, HUD shall disclose its not place restrictions on recipients that limit public access to the records of recipients that are pertinent to an award until award, except when HUD can demonstrate that such records shall be kept confidential and would have been exempted from disclosure pursuant to the Cooperator provides notice Freedom of Information Act (5 U.S.C. 552) if the intended disclosure with copies of the relevant records had belonged to FAS. HUD. (g) Indirect cost rate proposals, cost allocations allocation plans, etc. Paragraphs (g)(1) and (g)(2) of this provision section apply to the following types of documents, and their supporting records: Indirect —indirect cost rate computations or proposals, cost allocation plans, and any similar accounting computations of the rate at which a particular group of costs is chargeable (such as computer usage charge back chargeback rates or composite fringe benefit rates). If submitted for negotiation. If the Cooperator submits to FAS or the sub cooperators submits to the Cooperator the proposal, plan, or other computation to form the basis for negotiation of the rate, then the 3-year retention period for its supporting records starts on the date of such submission. If not submitted for negotiation. If the Cooperator is not required to submit to FAS or the sub cooperators is not required to submit to the Cooperator the proposal, plan, or other computation for negotiation purposes, then the 3-year retention period for the proposal, plan, or other computation and its supporting records starts at the end of the fiscal year (or other accounting period) covered by the proposal, plan, or other computation. COOPERATOR RESPONSIBILITIES. The standards contained in this provision do not relieve the Cooperator of the contractual responsibilities arising under its contract(s). The Cooperator is the responsible authority, without recourse to FAS, regarding the settlement and satisfaction of all contractual and administrative issues arising out of procurements entered into in support of this Agreement. This includes disputes, claims, award protests, source evaluation or other matters of a contractual nature. Matters concerning violation of statute are to be referred to such Federal, State or local authority, as may have proper jurisdiction.

Appears in 1 contract

Samples: Sub Recipient Agreement

RETENTION AND ACCESS REQUIREMENTS FOR RECORDS. This provision sets forth requirements for record retention and access to records. As used in this provision, “records” includes books, documents, accounting procedures and practice, and other data, regardless of the type or format. Financial records, supporting documents, statistical records, and all other records pertinent to an award shall be retained for a period of 3 years from the date of submission of the final expenditure report or, for awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, as authorized by FAS. The only exceptions are the following: If any litigation, claim, or audit is started before the expiration of the 3- year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved and final action taken; Records for real tangible property and equipment acquired with Federal funds shall be retained for 3 years after final disposition; When records are transferred to or maintained by FAS, the 3- year retention requirement is not applicable to the CooperatorRecipient; Indirect cost rate proposals, cost allocations plans, etc., as specified in paragraph (f) of this provision. Copies of original records may be substituted for the original records if authorized by FAS. FAS XXX will request transfer of certain records to its custody from Cooperators Recipients when it determines that the records possess long-term retention value. However, in order to avoid duplicate record keeping, FAS may make arrangements for Cooperators Recipients to retain any records that are continuously needed for joint use. XXX, the Inspector General, Comptroller General of the United States, or any of their duly authorized representatives, have the right of timely and unrestricted access to any books, documents, papers, or other records of Cooperators Recipients that are pertinent to the awards, in order to make audits, examinations, excerpts, transcripts and copies of such documents. This right also includes timely and reasonable access to a CooperatorRecipient’s personnel for the purpose of interview and discussion related to such documents. The Cooperator Recipient shall provide access to any program site(s) to FAS or any of its authorized representatives. The rights of access in this paragraph are not limited to the required retention period, but shall last as long as records are retained. No Cooperator Recipient shall disclose its records that are pertinent to an award until the Cooperator Recipient provides notice of the intended disclosure with copies of the relevant records to FAS. Indirect cost rate proposals, cost allocations plans, etc. Paragraphs (g)(1) and (g)(2) of this provision apply to the following types of documents, and their supporting records: Indirect cost rate computations or proposals, cost allocation plans, and any similar accounting computations of the rate at which a particular group of costs is chargeable (such as computer usage charge back rates or composite fringe benefit rates). If submitted for negotiation. If the Cooperator Recipient submits to FAS or the sub cooperators Recipients submits to the Cooperator Recipient the proposal, plan, or other computation to form the basis for negotiation of the rate, then the 3-year retention period for its supporting records starts on the date of such submission. If not submitted for negotiation. If the Cooperator Recipient is not required to submit to FAS or the sub cooperators Recipients is not required to submit to the Cooperator Recipient the proposal, plan, or other computation for negotiation purposes, then the 3-year retention period for the proposal, plan, or other computation and its supporting records starts at the end of the fiscal year (or other accounting period) covered by the proposal, plan, or other computation. COOPERATOR RESPONSIBILITIES. The standards contained in this provision do not relieve the Cooperator of the contractual responsibilities arising under its contract(s). The Cooperator is the responsible authority, without recourse to FAS, regarding the settlement and satisfaction of all contractual and administrative issues arising out of procurements entered into in support of this Agreement. This includes disputes, claims, award protests, source evaluation or other matters of a contractual nature. Matters concerning violation of statute are to be referred to such Federal, State or local authority, as may have proper jurisdiction.

Appears in 1 contract

Samples: Cooperative Agreement

RETENTION AND ACCESS REQUIREMENTS FOR RECORDS. This provision sets forth requirements for record retention and access to records. As used in this provision, “records” includes books, documents, accounting procedures and practice, and other data, regardless of the type or format. Financial records, supporting documents, statistical records, and all other records pertinent to an award shall be retained for a period of 3 years from the date of submission of the final expenditure report or, for awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, as authorized by FAS. The only exceptions are the following: If any litigation, claim, or audit is started before the expiration of the 3- year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved and final action taken; Records for real tangible property and equipment acquired with Federal funds shall be retained for 3 years after final disposition; When records are transferred to or maintained by FAS, the 3- year retention requirement is not applicable to the Cooperator; Indirect cost rate proposals, cost allocations plans, etc., as specified in paragraph (f) of this provision. Copies of original records may be substituted for the original records if authorized by FAS. FAS will request transfer of certain records to its custody from Cooperators when it determines that the records possess long-term retention value. However, in order to avoid duplicate record keeping, FAS may make arrangements for Cooperators to retain any records that are continuously needed for joint use. XXXFAS, the Inspector General, Comptroller General of the United States, or any of their duly authorized representatives, have the right of timely and unrestricted access to any books, documents, papers, or other records of Cooperators that are pertinent to the awards, in order to make audits, examinations, excerpts, transcripts and copies of such documents. This right also includes timely and reasonable access to a Cooperator’s personnel for the purpose of interview and discussion related to such documents. The Cooperator shall provide access to any program site(s) to FAS or any of its authorized representatives. The rights of access in this paragraph are not limited to the required retention period, but shall last as long as records are retained. No Cooperator shall disclose its records that are pertinent to an award until the Cooperator provides notice of the intended disclosure with copies of the relevant records to FAS. Indirect cost rate proposals, cost allocations plans, etc. Paragraphs (g)(1) and (g)(2) of this provision apply to the following types of documents, and their supporting records: Indirect cost rate computations or proposals, cost allocation plans, and any similar accounting computations of the rate at which a particular group of costs is chargeable (such as computer usage charge back rates or composite fringe benefit rates). If submitted for negotiation. If the Cooperator submits to FAS or the sub cooperators submits to the Cooperator the proposal, plan, or other computation to form the basis for negotiation of the rate, then the 3-year retention period for its supporting records starts on the date of such submission. If not submitted for negotiation. If the Cooperator is not required to submit to FAS or the sub cooperators is not required to submit to the Cooperator the proposal, plan, or other computation for negotiation purposes, then the 3-year retention period for the proposal, plan, or other computation and its supporting records starts at the end of the fiscal year (or other accounting period) covered by the proposal, plan, or other computation. COOPERATOR RESPONSIBILITIES. The standards contained in this provision do not relieve the Cooperator of the contractual responsibilities arising under its contract(s). The Cooperator is the responsible authority, without recourse to FAS, regarding the settlement and satisfaction of all contractual and administrative issues arising out of procurements entered into in support of this Agreement. This includes disputes, claims, award protests, source evaluation or other matters of a contractual nature. Matters concerning violation of statute are to be referred to such Federal, State or local authority, as may have proper jurisdiction.

Appears in 1 contract

Samples: Cost Reimbursable Agreement

AutoNDA by SimpleDocs

RETENTION AND ACCESS REQUIREMENTS FOR RECORDS. (1) This provision paragraph (c) sets forth requirements for record retention and access to recordsrecords for awards to recipients. As used in this provision, “records” includes books, documents, accounting procedures and practice, and Federal awarding agencies shall not impose any other data, regardless of the type record retention or format. access requirements upon recipients. (2) Financial records, supporting documents, statistical records, and all other records pertinent to an award shall be retained for a period of 3 three years from the date of submission of the final expenditure report or, for awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, as authorized by FASHUD. The only exceptions are the following: . (i) If any litigation, claim, or audit is started before the expiration of the 3- 3-year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved and final action taken; . (ii) Records for real property and equipment acquired with Federal funds shall be retained for 3 years after final disposition; . (iii) When records are transferred to or maintained by FASthe Federal awarding agency, the 3- 3-year retention requirement is not applicable to the Cooperator; Indirect cost rate proposals, cost allocations plans, etcrecipient., as specified in paragraph (f3) of this provision. Copies of original records may be substituted for the original records if authorized by FAS. FAS will XXX. (4) HUD shall request transfer of certain records to its custody from Cooperators recipients when it determines that the records possess long-long term retention value. However, in order to avoid duplicate record keepingrecordkeeping, FAS HUD may make arrangements for Cooperators recipients to retain any records that are continuously needed for joint use. XXX. (5) HUD, the Inspector General, Comptroller General of the United States, or any of their duly authorized representatives, have the right of timely and unrestricted access to any books, documents, papers, or other records of Cooperators recipients that are pertinent to the awards, in order to make audits, examinations, excerpts, transcripts and copies of such documents. This right also includes timely and reasonable access to a Cooperator’s recipient's personnel for the purpose of interview and discussion related to such documents. The Cooperator shall provide access to any program site(s) to FAS or any of its authorized representatives. The rights of access in this paragraph (c)(5) are not limited to the required retention period, but shall last as long as records are retained. No Cooperator shall disclose its records that are pertinent to an award until the Cooperator provides notice of the intended disclosure with copies of the relevant records to FAS. Indirect cost rate proposals, cost allocations plans, etc. Paragraphs (g)(1) and (g)(2) of this provision apply to the following types of documents, and their supporting records: Indirect cost rate computations or proposals, cost allocation plans, and any similar accounting computations of the rate at which a particular group of costs is chargeable (such as computer usage charge back rates or composite fringe benefit rates). If submitted for negotiation. If the Cooperator submits to FAS or the sub cooperators submits to the Cooperator the proposal, plan, or other computation to form the basis for negotiation of the rate, then the 3-year retention period for its supporting records starts on the date of such submission. If not submitted for negotiation. If the Cooperator is not required to submit to FAS or the sub cooperators is not required to submit to the Cooperator the proposal, plan, or other computation for negotiation purposes, then the 3-year retention period for the proposal, plan, or other computation and its supporting records starts at the end of the fiscal year (or other accounting period) covered by the proposal, plan, or other computation. COOPERATOR RESPONSIBILITIES. The standards contained in this provision do not relieve the Cooperator of the contractual responsibilities arising under its contract(s). The Cooperator is the responsible authority, without recourse to FAS, regarding the settlement and satisfaction of all contractual and administrative issues arising out of procurements entered into in support of this Agreement. This includes disputes, claims, award protests, source evaluation or other matters of a contractual nature. Matters concerning violation of statute are to be referred to such Federal, State or local authority, as may have proper jurisdiction.

Appears in 1 contract

Samples: Sub Recipient Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!