Open Book Policy definition
Open Book Policy. Means transparency in respect of the Provider's accounts and financial arrangements insofar as they relate to the Services.
Open Book Policy. Seneca understands and agrees that this Agreement requires Seneca to maintain complete and accurate books and records with respect to the Alliance Plants in accordance with US GAAP, and to maintain them on an “open book” basis. Therefore, for a period of at least seven years after each March 31st during the term of this Agreement, Seneca shall maintain complete and accurate accounting books and records in accordance with standard accounting practices to substantiate all Transfer Price components for the Plants for the Fiscal Year ending on such March 31st, and any proposed year-end adjustments thereto. Seneca shall make such records available to GMOL or GMOL’s agents to the extent necessary to enable GMOL to verify, to GMOL’s satisfaction, the Transfer Prices and otherwise support all Transfer Price components and any proposed year-end adjustments thereto, all as more fully described in the Accounting Procedures.
Examples of Open Book Policy in a sentence
The Provider shall operate an Open Book Policy in relation to its financial arrangements concerning the Services and shall permit the Council on reasonable notice to inspect its accounts and provide the Council with such information concerning its financial arrangements and accounts as the Council may reasonably request.