Account and financial records Sample Clauses

The "Account and financial records" clause requires a party to maintain accurate and complete records of all financial transactions related to the agreement. Typically, this means keeping detailed books, receipts, invoices, and supporting documentation that reflect the true nature of all monetary dealings. Such a clause often applies to contractors, vendors, or partners who must be able to demonstrate compliance with payment terms or financial obligations. Its core function is to ensure transparency and accountability, making it easier to audit or verify financial activities and thereby reducing the risk of fraud or mismanagement.
Account and financial records. 6.3.1. The Recipient agrees to ensure that the Funding is held in an account in the Recipient’s name and which the Recipient solely controls, with an authorised deposit-taking institution authorised under the Banking ▇▇▇ ▇▇▇▇ (Cth) to carry on banking business in Australia and that is an account that complies with any other requirements specified in Item A.7 in the Schedule.
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Account and financial records. The establishment and administration of accounting procedures and controls, and systems for the development, preparation and safekeeping of records and books of accounting relating to the business and financial affairs of the Operations.
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Account and financial records. (a) The Recipient agrees to ensure that the Funding is held in an account in the Recipient’s name and which the Recipient solely controls, with an authorised deposit-taking institution authorised under the Banking Act 1959 (Cth) to carry on banking business in Australia and that is an account that complies with any other reasonable requirements of the Department. (b) The Recipient must, in relation to the account referred to in clause 8.1(a): (i) notify the Department, prior to the receipt of any Funding, of details sufficient to identify the account; (ii) on notification from the Department, provide the Department and the authorised deposit-taking institution with a written authority for the Department to obtain any details relating to any use of the account; and (iii) if the account changes, notify the Department within 10 Business Days of the change occurring and provide the Department with details of the new account. (c) The Recipient agrees to: (i) keep financial accounts and records relating to the Funding and the Project that identify: (A) all receipts and payments related to the Project; and (B) all interest earned on the Funding. (ii) unless otherwise notified by the Department, prepare financial statements for the Project in accordance with Australian Accounting Standards and (A) arrange for the audit of those accounts and records in accordance with Australian Auditing Standards.
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Account and financial records. ‌ (a) The Recipient agrees to ensure that the Funding is held in an account in the Recipient’s name and which the Recipient solely controls, with an authorised deposit-taking institution authorised under the Banking Act 1959 (Cth) to carry on banking business in Australia and that is an account that complies with any other reasonable requirements of the Department. (b) The Recipient agrees to: (i) keep financial accounts and Records relating to the Funding and Project that identify: (A) all receipts and payments related to the Funding and Project; and (B) all interest earned on the Funding. (ii) unless otherwise notified by the Department, prepare financial statements for the Project in accordance with Australian Accounting Standards including: (A) a register of the Assets created, acquired, written-off or Disposed of during the Financial Year to date; and (B) arrange for the audit of those accounts and Records in accordance with Australian Auditing Standards.
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Related to Account and financial records

  • Financial Records 26.1.1 CONTRACTOR shall prepare and maintain accurate and complete financial records. Financial records shall be retained by CONTRACTOR for a minimum of five (5) years from the date of final payment under this Contract, or until all pending COUNTY, State, and federal audits are completed, whichever is later. 26.1.2 CONTRACTOR shall establish and maintain reasonable accounting, internal control, and financial reporting standards in conformity with generally accepted accounting principles established by the American Institute of Certified Public Accountants and to the satisfaction of ADMINISTRATOR.

  • Accounting Methods and Financial Records Maintain a system of accounting, and keep such books, records and accounts (which shall be true and complete in all material respects) as may be required or as may be necessary to permit the preparation of financial statements in accordance with GAAP and in compliance with the regulations of any Governmental Authority having jurisdiction over it or any of its properties.

  • RECORDS AND FINANCIAL STATEMENTS The Advisor, in the conduct of its responsibilities to the Company, shall maintain adequate and separate books and records for the Company’s operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded. Such books and records shall be the property of the Company and shall be available for inspection by the Board and by counsel, auditors and other authorized agents of the Company, at any time or from time to time during normal business hours. Such books and records shall include all information necessary to calculate and audit the fees or reimbursements paid under this Agreement. The Advisor shall utilize procedures to attempt to ensure such control over accounting and financial transactions as is reasonably required to protect the Company’s assets from theft, error or fraudulent activity. All financial statements that the Advisor delivers to the Company shall be prepared on an accrual basis in accordance with GAAP, except for special financial reports that by their nature require a deviation from GAAP. The Advisor shall liaise with the Company’s officers and independent auditors and shall provide such officers and auditors with the reports and other information that the Company so requests.

  • Foreign Assets/Account Reporting Information Italian residents who, during the fiscal year, hold investments abroad or foreign financial assets (e.g., cash, Shares and RSUs) which may generate income taxable in Italy are required to report such on their annual tax returns (UNICO Form, RW Schedule) or on a special form if no tax return is due. The same reporting obligations apply to Italian residents who, even if they do not directly hold investments abroad or foreign financial assets (e.g., cash, Shares and RSUs), are beneficial owners of the investment pursuant to Italian money laundering provisions.

  • Loan Account and Accounting Agent shall maintain a loan account (the "Loan Account") on its books to record: all Advances, all payments made by Borrower, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, be presumptive evidence of the amounts due and owing to Agent and Lenders by Borrower; provided, that any failure to so record or any error in so recording shall not limit or otherwise affect Borrower's duty to pay the Obligations. Agent shall render to Borrower a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account for the immediately preceding month. Unless Borrower notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within 30 days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive on Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. Notwithstanding any provision herein contained to the contrary, any Lender may elect (which election may be revoked) to dispense with the issuance of Notes to that Lender and may rely on the Loan Account as evidence of the amount of Obligations from time to time owing to it.