Common use of TRACEABILITY OF FINANCIAL FLOWS Clause in Contracts

TRACEABILITY OF FINANCIAL FLOWS. Pursuant to art. 3 of Law no. 136 of August 13, 2010, when the Supplier is a subcontractor of the companies involved in public works, services and supplies, he shall undertake the financial flows traceability obligations provided for by the above-mentioned law, under penalty of Order termination, and namely: a) the obligation to use a current account dedicated, not exclusively, to public procurement contracts, and thus to the Order, opened at banks, with notification to the body concerned and to Company of the account data provided for by the law; b) the obligation to carry out all the financial transactions related to public procurement contracts, and thus to the Order, by bank or post transfer or by other payment instruments ensuring that the operations are fully traceable; c) the obligation to specify in the above-mentioned payment instrument the call for tender identification code; The Supplier, in his capacity as a subcontractor of Company with reference to a public procurement contract, undertakes to include in the contracts with his subcontractors, related to any public procurement, the clause mentioned in paragraph 1 and to forward a copy of the contracts in question to the body concerned.