Common use of Accurate and Timely Submission of Reports Clause in Contracts

Accurate and Timely Submission of Reports. a) The reports and administrative fees shall be accurate and timely and submitted in accordance with the due dates specified in this section. Vendor shall correct any inaccurate reports or administrative fee payments within three (3) business days upon written notification by DIR. Vendor shall deliver any late reports or late administrative fee payments within three (3) business days upon written notification by DIR. If Vendor is unable to correct inaccurate reports or administrative fee payments or deliver late reports and fee payments within three (3) business days, Vendor must contact DIR and provide a corrective plan of action, including the timeline for completion of correction. The corrective plan of action shall be subject to DIR approval. b) Should Vendor fail to correct inaccurate reports or cure the delay in timely delivery of reports and payments within the corrective plan of action timeline, DIR reserves the right to require an independent third party audit of the Vendor’s records as specified in C.3 of this Section, at Vendor’s expense. DIR will select the auditor (and all payments to auditor will require DIR approval). c) Failure to timely submit three (3) reports or administrative fee payments within any rolling twelve (12) month period may, at DIR’s discretion, result in the addition of late fees of $100/day for each day the report or payment is due (up to $1000/month) or suspension or termination of Vendor’s Contract. E. Appendix A, Section 10.J. Security of Premises, Equipment, Data and Personnel, is hereby amended to read as follows:

Accurate and Timely Submission of Reports. a) The reports and administrative fees shall be accurate and timely and submitted in accordance with the due dates specified in this sectionSection. Vendor shall correct any inaccurate reports or administrative fee payments within three five (35) business days upon written notification by DIR. Vendor shall deliver any late reports or late administrative fee payments within three five (35) business days upon written notification by DIR. If Vendor is unable to correct inaccurate reports or administrative fee payments or deliver late reports and fee payments within three five (35) business days, Vendor must contact DIR and provide a corrective plan of action, including the timeline for completion of correction. The corrective plan of action shall be subject to DIR approval. b) Should Vendor fail to correct inaccurate reports or cure the delay in timely delivery of reports and payments within the corrective plan of action timeline, DIR reserves the right to require an independent third party audit of the Vendor’s records as specified in C.3 of this Section, Section at Vendor’s 's expense. Vendor and DIR will attempt to mutually select and agree on the auditor auditor; however, if they cannot do so within 30 days, then DIR will make the selection. If Vendor is found to be responsible for financially inaccurate reports, DIR may invoice for the reasonable costs of the audit, which Vendor must pay within thirty (and all payments to auditor will require DIR approval). c30) calendar days of receipt. Failure to timely submit three (3) reports or administrative fee payments within any rolling twelve (12) month period may, at DIR’s discretion, result in the addition of late fees of $100/day for each day the report or payment is due (up to $1000/month) or suspension or termination of Vendor’s Contract. E. Appendix A, Section 10.J. Security of Premises, Equipment, Data and Personnel, is hereby amended to read as follows: