Common use of Right to Inspect and Audit Clause in Contracts

Right to Inspect and Audit. Each contract shall provide that the suppliers, contractors and subcontractors shall permit the Association, at its request, to inspect their accounts and records relating to the procurement and performance of the contract and to have said accounts and records audited by auditors appointed by the Association. The deliberate and material violation by the supplier, contractor or subcontractor of such provision may amount to obstructive practice.

Right to Inspect and Audit. Each contract financed from the proceeds of the Financing shall provide that the suppliers, contractors contractors, and subcontractors shall permit the Association, at its request, to inspect their accounts and records relating to the procurement and performance of the contract and to have said such accounts and records audited by auditors appointed by the Association. The deliberate and material violation by the supplier, contractor contractor, or subcontractor of such provision may amount to an obstructive practicepractice within the meaning of paragraph 7 of the Anti-Corruption Guidelines.