Financial Practices Clause Samples

The Financial Practices clause establishes the standards and procedures for managing financial transactions and obligations within an agreement. It typically outlines requirements for invoicing, payment terms, record-keeping, and compliance with relevant accounting principles. By clearly defining how financial matters are to be handled, this clause helps prevent disputes, ensures transparency, and promotes accountability between the parties involved.
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Financial Practices. Awardee’s financial management of the Project will be governed by controls, good management practices, procedures and standards at least as rigorous as its local Generally Accepted Accounting Principles (GAAP), or International Financial Reporting Standards (IFRS) if adopted by the Awardee, as confirmed in Awardee’s annual audited financial statement.
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Financial Practices. The Grantee agrees to conform with generally accepted principles of accounting and procedures for determining reasonableness, allowability, and allocability.
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Financial Practices. The financial practices of GRFCI shall follow the highest standards of accountability and transparency. Unless doing so would reveal personal information of employees, donors, or other persons; or otherwise compromise the stability of GRFCI, financial records will be available to all members and employees of GRFCI, and to other such persons as the board determines.
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Financial Practices from the Pre-Activities Start Date, awardee’s financial management of the Project will be governed by controls, good management practices, procedures and standards at least as rigorous as its local Generally Accepted Accounting Principles (GAAP), or International Financial Reporting Standards (IFRS) if adopted by the Awardee, as confirmed in Awardee’s annual audited financial statement.
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Financial Practices. The Parties anticipate that all financial activities of the District relative to operation and management of the District will be accounted for and reported as a separate, segregated fund of ▇▇▇▇▇▇▇▇▇▇▇▇ County, Virginia. Manager shall cooperate in the creation and preservation of financial records necessary to accomplish this requirement. An annual audit of the segregated fund of ▇▇▇▇▇▇▇▇▇▇▇▇ County shall be part of the annual financial audit of ▇▇▇▇▇▇▇▇▇▇▇▇ County. ▇▇▇▇▇▇▇▇▇▇▇▇ County will provide separate comparative financial statements (statements of revenues and expenses, balance sheets, statements of changes in fund balances including any restricted funds) and such other accompanying schedules relative to operation of the District. In order to assist Manager with administration of the District, ▇▇▇▇▇▇▇▇▇▇▇▇ County shall provide Manager standard comparative monthly and year-to-date financial statements and supporting schedules. Manager shall be responsible for reviewing the financial statements and preparing a narrative report for management purposes explaining significant budget variances and highlighting any significant changes in expected results for the current and any future financial period.
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Related to Financial Practices

  • Commercial Practices Borrower assumes all risks of the acts or omissions of any LC Beneficiary or transferees of any Letter of Credit with respect to the use of such Letter of Credit. Borrower agrees that neither any LC Issuing Bank, Administrative Agent nor any Lender (nor any of their respective directors, officers, or employees) shall be liable or responsible for: (a) the use which may be made of any Letter of Credit or for any acts or omissions of any LC Beneficiary or transferee in connection therewith; (b) any reference which may be made to this Agreement or to any Letter of Credit in any agreements, instruments or other documents; (c) the validity, sufficiency or genuineness of documents other than the Letters of Credit, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged or any statement therein proved to be untrue or inaccurate in any respect whatsoever; (d) payment by any LC Issuing Bank against presentation of documents which do not strictly comply with the terms of the applicable Letter of Credit, including failure of any documents to bear any reference or adequate reference to such Letter of Credit; or (e) any other circumstances whatsoever in making or failing to make payment under any Letter of Credit, except only that an LC Issuing Bank shall be liable to Borrower for acts or events described in clauses (a) through (e) above, to the extent, but only to the extent, of any direct damages, as opposed to indirect, special or consequential damages, suffered by Borrower which Borrower proves were caused by (i) any LC Issuing Bank’s willful misconduct or gross negligence in determining whether a drawing made under the applicable Letter of Credit complies with the terms and conditions therefor stated in such Letter of Credit or (ii) any LC Issuing Bank’s willful failure to pay under any Letter of Credit after a drawing by the respective LC Beneficiary strictly complying with the terms and conditions of the applicable Letter of Credit. Without limiting the foregoing, any LC Issuing Bank may accept any document that appears on its face to be in order, without responsibility for further investigation. Borrower hereby waives any right to object to any payment made under a Letter of Credit with regard to a drawing that is in the form provided in such Letter of Credit but which varies with respect to punctuation (except punctuation with respect to any Dollar amount specified therein), capitalization, spelling or similar matters of form.

  • Ethical Practices ▇▇▇▇▇▇ provides adoption services ethically and in accordance with the Hague Convention’s principles of: ensuring that both domestic and intercountry adoptions take place in the best interests of children; and preventing the abduction, exploitation, sale, or trafficking of children. The Agency prohibits its employees and agents from giving money or other consideration, directly or indirectly, to a child’s parent(s), other individual(s), or an entity as payment for the child or as an inducement to release the child. If permitted or required by the child’s country of origin, the Agency may remit reasonable payments for activities related to the adoption proceedings, pre-birth and birth medical costs, the care of the child, the care of the birth mother while pregnant and immediately following birth, or the provision of child welfare and child protection services generally.

  • Personnel Practices Section 1. The parties agree to establish a Labor-Management Committee to consult on personnel practices. The Committee will consist of five (5) representatives selected by the County and five (5) representatives by the SEIU Local 721. The Chief Executive Officer will designate a representative from CEO/Employee Relations and Department of Human Resources who have authority to resolve issues. The Committee will meet quarterly and consult on County-wide personnel practices including, but not limited to, performance evaluations, appraisals of promotability, grievance, arbitration, appeal processes, and resolution and payment of awards. Section 2. Dignity and Professionalism in the Workplace 1. The Union and Management are committed to working together to ensure a healthy and professional work environment free from emotional and psychological abuse and intimidation and to promote dignity for all workforce members. 2. The Union and Management agree to work together to develop a training program open to managers and SEIU Local 721 represented employees through the Workforce Development Program, the Million Dollar Training Fund and/or other sources of funding designated to promote dignity, prevent and reduce intimidation and other forms of emotional and psychological abuse in the workplace and create awareness of its negative impact. 3. Labor and Management are committed to working together to address complaints of intimidation and other forms of emotional and psychological abuse in the workplace in a timely manner. 4. The County Department of Human Resources is committed to working with the Union to develop policy to promote dignity and respect at the workplace and to prevent intimidation and other forms of emotional and psychological abuse in the workplace. Section 3. Communication through County E-mail Recognizing that e-mail is a standard medium of business communication, the County will meet with representatives of the Union to consider the feasibility of communication with bargaining unit members through their County e-mail addresses. This workgroup will complete its work within 60 days of the Board of Supervisors’ approval of the MOU. The workgroup will present recommendations to the Board of Supervisors for any policy changes. Section 4. Education Based Discipline Education-Based Discipline (EBD) is offered when an employee must serve a suspension from duty as a result of some type of policy violation, but rather than serving the suspension days at home with a loss of pay, some or all of those days can be substituted for a relevant training class or classes. Participation in the program is voluntary for the employee. The Personnel Practices Committee defined in Section 1 will meet to discuss expansion of EBD to all departments in the County.

  • Internal Practices To make Business Associate’s internal practices, books and records relating to the use and disclosure of PHI received from County, or created or received by Business Associate on behalf of County, available to County or to the Secretary of the U.S. Department of Health and Human Services in a time and manner designated by County or by the Secretary, for purposes of determining County compliance with the HIPAA regulations.

  • Payroll Practices All payments, benefits or other compensation under this paragraph 4 shall be paid in accordance with normal payroll practices as in effect on the Termination Date, except as provided in subparagraph (h) hereof, and subject to required payroll withholdings over the course of the period provided for within the applicable subsection above.