Common use of Records of Defined Cost Clause in Contracts

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.