Common use of BOOKS OF RECORD AND AUDIT PROVISION Clause in Contracts

BOOKS OF RECORD AND AUDIT PROVISION. Contractor shall maintain on a current basis complete books and records relating to this Contract. Contractor shall maintain detailed records of all expenses charged to the Agency. These documents and records shall be retained for at least five years from the completion of this Contract. Contractor will permit the Agency to audit all books accounts or records relating to this Contract Any audit may be conducted on Contractor's premises or, at Agency's option, Contractor shall provide all books and records within a maximum of fifteen (15) days upon receipt of written notice from Agency. Contractor shall refund any moneys erroneously charged along with reimbursing the Agency for the costs of any audit made necessary by an overpayment to Contractor.