Records of Defined Cost Clause Samples
The 'Records of Defined Cost' clause requires parties to maintain detailed and accurate documentation of all costs that are considered 'defined costs' under the contract. This typically involves keeping invoices, timesheets, receipts, and other supporting records that substantiate the amounts claimed for reimbursement or payment. By mandating thorough record-keeping, the clause ensures transparency and enables the other party to verify that only legitimate, contractually-allowed costs are being charged, thereby reducing the risk of disputes and promoting accountability.
Records of Defined Cost. In order to substantiate the Defined Cost of compensation events, the Employer may require the Contractor to keep records of amounts paid by him for people employed by the Contractor, plant and materials, work subcontracted by the Contractor and equipment. [See clause 11.2(2) and 63.2]. State in what form these records are to be kept and how accessed by the Employer.
Records of Defined Cost. Not Applicable
Records of Defined Cost payments & assessments of compensation events to be kept by the Contractor
Records of Defined Cost. The Contractor shall keep records of amounts paid by him for people employed by the Contractor, Plant and Material, work subcontracted by the Contractor and Equipment. These records shall be made available on request by the Employer.
Records of Defined Cost to be kept by the Contractor
Records of Defined Cost. In order to substantiate the Defined Cost of compensation events, the Employer may require the Contractor to keep records of amounts paid by him for people employed by the Contractor, Plant and Materials, work subcontracted by the Contractor and Equipment. [See clause 11.2(5) and 63.2]. The Contractors Site Manager will complete a site daily log and this will be submitted to the Employers Representative for his signature before 12am of the following morning barring weekends. The Friday and weekend logs will be submitted before 12am Mondays. The log will include but not be limited to the following: Date and day. Weather. Site conditions. Work done. Labour on site. Any incidents during that period. Any communication that took place.
Records of Defined Cost. Records of defined cost to be kept by the Contractor in PDF format and these will include invoices and receipts etc., they will be requested by the Employer on an as and when required basis for the assessing of compensation event and clarify any cost related queries which might arise.
Records of Defined Cost. The contractor maintains all records of defined costs on site stored in a file and accessible to the Employer for the purpose of determining the defined cost. The contractor allows the employer full access to the information and provides explanations where required.
Records of Defined Cost. In order to substantiate the Defined Cost of compensation events, the Employer may require the Contractor to keep records of amounts paid by him for people employed by the Contractor, Plant and Materials, work subcontracted by the Contractor and Equipment. [See clause 11.2(5) and 63.2]. State in what form these records are to be kept and how accessed by the Employer. The Contractor shall keep records of amounts paid by him for people employed by the Contractor, Plant and Material, work subcontracted by the Contractor and Equipment. These records shall be made available on request by the Employer.
Records of Defined Cost. The Employer requires the Contractor to keep records of amounts paid by him for all materials purchased in the form of receipts. Copies of these receipts must be submitted with the invoices.