Common use of ACCESS TO RECORDS AND RECORDS RETENTION Clause in Contracts

ACCESS TO RECORDS AND RECORDS RETENTION. The BORROWER or Contractor, 21 and any sub-consultants or sub-contractors, shall allow all duly authorized 22 Federal, State, and/or County officials or authorized representatives access to 23 the work area, as well as all books, documents, materials, papers, and records 24 of the BORROWER or Contractor, and any sub-consultants or sub-contractors, 25 that are directly pertinent to a specific program for the purpose of making 26 audits, examinations, excerpts, and transcriptions. The BORROWER or 27 Contractor, and any sub-consultants or sub-contractors, further agree to 1 maintain and keep such books, documents, materials, papers, and records, on a 2 current basis, recording all transactions pertaining to this Agreement in a form 3 in accordance with generally acceptable accounting principles. All such books 4 and records shall be retained for such periods of time as required by law, 5 provided, however, notwithstanding any shorter periods of retention, all books, 6 records, and supporting detail shall be retained for a period of at least five (5) 7 years after the expiration of the term of this Agreement, or final payment is 8 made, whichever is later.

ACCESS TO RECORDS AND RECORDS RETENTION. The BORROWER Consultant or Contractor, 21 and any 12 sub-consultants or sub-contractors, shall allow all duly authorized 22 Federal, State, and/or County 13 officials or authorized representatives access to 23 the work area, as well as all books, documents, 14 materials, papers, and records 24 of the BORROWER Consultant or Contractor, and any sub-consultants or sub-sub- 15 contractors, 25 that are directly pertinent to a specific program for the purpose of making 26 audits, 16 examinations, excerpts, and transcriptions. The BORROWER Consultant or 27 Contractor, and any sub-sub- 17 consultants or sub-contractors, further agree to 1 maintain and keep such books, documents, 18 materials, papers, and records, on a 2 current basis, recording all transactions pertaining to this Agreement 19 agreement in a form 3 in accordance with generally acceptable accounting principles. All such 20 books 4 and records shall be retained for such periods of time as required by law, 5 provided, 21 however, notwithstanding any shorter periods of retention, all books, 6 records, and supporting 22 detail shall be retained for a period of at least five four (54) 7 years after the expiration of the term of 23 this Agreement, or final payment is 8 made, whichever is later.

ACCESS TO RECORDS AND RECORDS RETENTION. The BORROWER GRANTEE or Contractor, 21 and 20 any sub-consultants or sub-contractors, shall allow all duly authorized 22 Federal, 21 State, and/or County officials or authorized representatives access to 23 the work 22 area, as well as all books, documents, materials, papers, and records 24 of the BORROWER 23 GRANTEE or Contractor, and any sub-consultants or sub-contractors, 25 that are 24 directly pertinent to a specific program for the purpose of making 26 audits, 25 examinations, excerpts, and transcriptions. The BORROWER GRANTEE or 27 Contractor, and 26 any sub-consultants or sub-contractors, further agree to 1 maintain and keep such 27 books, documents, materials, papers, and records, on a 2 current basis, recording 1 all transactions pertaining to this Agreement agreement in a form 3 in accordance with 2 generally acceptable accounting principles. All such books 4 and records shall 3 be retained for such periods of time as required by law, 5 provided, however, 4 notwithstanding any shorter periods of retention, all books, 6 records, and 5 supporting detail shall be retained for a period of at least five (5) 7 years after the 6 expiration of the term of this Agreement, or final payment is 8 made, whichever 7 is later.