Right of Auditing Clause Samples

The Right of Auditing clause grants one party the authority to review and inspect the records, processes, or facilities of the other party to ensure compliance with contractual obligations. Typically, this right allows for scheduled or unscheduled audits, which may include examining financial documents, operational procedures, or data security measures. Its core practical function is to provide transparency and accountability, helping to detect and prevent breaches, mismanagement, or non-compliance with the agreement.
Right of Auditing. Contractor shall maintain complete records relating to any cost-based (i.e., Work not covered by firm prices) components of the Work billed under this Agreement or relating to the quantity of units billed under any unit price provisions of this Agreement (all the foregoing hereinafter referred to as “Records”) for a minimum of five years following the latest of performance of, delivery to Company of, or payment by Company for, such Work or units. All such Records shall be open to inspection and subject to audit and reproduction during normal working hours, by Company or its authorized representatives to the extent necessary to adequately permit evaluation and verification of any invoices, payments, time sheets, or claims based on Contractor’s actual costs incurred in the performance or delivery of Work under this Agreement. For the purpose of evaluating or verifying such actual or claimed costs, Company or its authorized representative shall have access to said Records at any time, including any time after final payment by Company to Contractor pursuant to this Agreement. All non-public information obtained in the course of such audits shall be held in confidence except pursuant to judicial and administrative order. Company or its authorized representative shall have access, during normal working hours, to all necessary Contractor facilities and shall be provided adequate and appropriate workspace to conduct audits in compliance with the provisions of this Article. Company shall give Contractor reasonable notice of intended audits. The rights of Company set forth in this paragraph shall survive the termination or expiration of this Agreement.
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Right of Auditing. Each party shall have the costs and proceeds relevant to the Agreement confirmed by a certified auditor of its choice upon the other party's request. Art. 19 - Transfer of the Agreement / Participation of Third Parties
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Right of Auditing. Licensor, or its duly authorised representative, shall have the right at its own expense to examine, audit and make copies of such books and records and all other documents and materials with respect to the subject matter and the terms of this Agreement. Such examination and audit shall be carried out upon reasonable notice and at Agent's office during regular business hours. Such right survives the Term of this Agreement for a period of (2) years following the expiration of this Agreement or termination hereof. If a review of Agent's records indicates a discrepancy of five (5) percent or more, Agent shall pay Licensor's auditing fees and expenses in addition to any other payment due.
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Related to Right of Auditing

  • Right of Audit 28.1 The Contractor shall keep secure and maintain until six years after the final payment of all sums due under the Contract, or such other period as may be agreed between the Parties, full and accurate records of the Services, all expenditure reimbursed by the Authority and all payments made by the Authority. 28.2 The Contractor shall grant to the Authority, or its authorised agents, such access to those records as they may reasonably require in order to check the Contractor's compliance with the Contract. 28.3 For the purposes of the examination and certification of the Authority's accounts, or any examination under section 6(1) of the National Audit ▇▇▇ ▇▇▇▇ or annual re-enactment thereof as to the economy, efficiency and effectiveness with which the Authority has used its resources, the Comptroller and Auditor General may examine such documents as he may reasonably require which are owned, held or otherwise within the control of the Contractor and may require the Contractor to provide such oral or written explanations as he may reasonably require for those purposes. The Contractor shall give all reasonable assistance to the Comptroller and Auditor General for those purposes. 28.4 Condition 28.3 applies only in respect of documents relating to the Contract and only for the purpose of the auditing of the Authority. It does not constitute an agreement under section 6(3)(d) of the National Audit Act 1983 such as to make the Contractor the subject of auditing under that Act. 28.5 Except where an audit is imposed on the Authority by a Regulatory Body (in which case the Authority may carry out the audit required without prejudice to its other rights) the Authority may conduct an audit: a) to review the integrity, confidentiality and security of the Authority Data; b) to review the Contractor's compliance with the Data Protection ▇▇▇ ▇▇▇▇, the Freedom of Information ▇▇▇ ▇▇▇▇ in accordance with Condition 29 (Data Protection Act and Freedom of Information Act) and any other legislation applicable to the Services. 28.6 Subject to the Authority's obligations of confidentiality, the Contractor shall on demand provide the Authority (and/or its agents or representatives) with all reasonable co-operation and assistance in relation to each audit, including: a) all information requested by the Authority within the permitted scope of the audit; b) reasonable access to any Sites controlled by the Contractor and to any equipment used (whether exclusively or non-exclusively) in the performance of the Services; c) access to the Contractor‟s system; and d) access to the Contractor‟s Staff.

  • Right of Appeal 13.1 If the Administrator: 13.1.1 decides not to certify a facility or to vary a certificate which has been issued; 13.1.2 serves a notice imposing a buy-out fee under Rule 7 upon determining that a target unit has failed to meet its target; or 13.1.3 decides to vary or not to vary the target for a target unit, the Operator may appeal to the Tribunal against the decision. 13.2 In respect of an Operator which enters into an agreement after 1 April 2013, the Operator may appeal to the Tribunal against the target that has been set for the target unit by the Administrator. 13.3 For the purposes of Rule 13.2, the date on which notice of the decision is deemed to have been sent to the Operator is the later of the date the agreement is entered into or the date the Administrator sends notice to the Operator of the target for the target unit. 13.4 The grounds on which an Operator may appeal under Rule 13.1 and 13.2 are: 13.4.1 that the decision was based on an error of fact; 13.4.2 that the decision was wrong in law; 13.4.3 that the decision was unreasonable; 13.4.4 any other reason. 13.5 The bringing of an appeal suspends the effect of the decision pending final determination by the Tribunal of the appeal or its withdrawal. 13.6 On determining an appeal under these Rules the Tribunal must either: 13.6.1 affirm the decision; 13.6.2 quash the decision; or 13.6.3 vary the decision.

  • Scope of Audit Customer shall provide at least sixty days advance notice of any audit unless mandatory Data Protection Law or a competent data protection authority requires shorter notice. The frequency and scope of any audits shall be mutually agreed between the parties acting reasonably and in good faith. Customer audits shall be limited in time to a maximum of three business days. Beyond such restrictions, the parties will use current certifications or other audit reports to avoid or minimize repetitive audits. Customer shall provide the results of any audit to SAP.

  • Appointment of auditors 33.2.1 The Concessionaire shall appoint, and have during the subsistence of this Agreement as its Statutory Auditors, a firm chosen by it from the mutually agreed list of 10 (ten) reputable firms of chartered accountants (the “Panel of Chartered Accountants”), such list to be prepared substantially in accordance with the criteria set forth in Schedule-T. All fees and expenses of the Statutory Auditors shall be borne by the Concessionaire. 33.2.2 The Concessionaire may terminate the appointment of its Statutory Auditors after a notice of 45 (forty five) days to the Authority, subject to the replacement Statutory Auditors being appointed from the Panel of Chartered Accountants. 33.2.3 Notwithstanding anything to the contrary contained in this Agreement, the Authority shall have the right, but not the obligation, to appoint at its cost from time to time and at anytime, another firm (the “Additional Auditors”) from the Panel of Chartered Accountants to audit and verify all those matters, expenses, costs, realisations and things which the Statutory Auditors are required to do, undertake or certify pursuant to this Agreement.

  • Right of Review Once Lessor shall have finally determined said Operating, Utility and Energy or Real Estate Tax Costs at the expiration of a Lease Year, then as to the item so established, Lessee shall only be entitled to dispute said charge as finally established for a period of six (6) months after such charge is finally established, and Lessee specifically waives any right to dispute any such charge at the expiration of said six (6) month period.