Common use of Audits and Analyses Clause in Contracts

Audits and Analyses. (1) The Government or Buyer will audit/analyze the Seller's processes, controls, policies, accountability, and administration of Government property in accordance with FAR and Customer Acquisition Manual requirements. Failure of the contractor to maintain an adequate property management system may result in revocation of the Government's assumption of risk by the Contracting Officer through the Buyer. (2) Support Property Administration for subcontractors and alternate locations will be performed in accordance with FAR 45.502 and 45.503, and applicable Customer Acquisition Manual provisions. When ▇▇▇▇▇ is also performing as a subcontractor on another ▇▇▇▇▇'s Customer contract, the Buyer's Customer Property Analysts will, when appropriate, include any property accountable to that subcontract in their analysis of the Buyer. This support property administration applies to the property analysis and represents no change to the Seller to subcontractor relationship with respect to plant clearance, Loss, Damage, Destruction, or Theft (LDDT), and property reporting.

Audits and Analyses. (1) The Government or Buyer will audit/analyze the Seller's processes, controls, policies, accountability, and administration of Government property in accordance with FAR and Customer Acquisition Manual requirements. Failure of the contractor to maintain an adequate property management system may result in revocation of the Government's assumption of risk by the Contracting Officer through the Buyer. (2) Support Property Administration for subcontractors and alternate locations will be performed in accordance with FAR 45.502 and 45.503, and applicable Customer Acquisition Manual provisions. When ▇▇▇▇▇ is also performing as a subcontractor on another ▇▇▇▇▇Buyer's Customer contract, the Buyer's Customer Property Analysts will, when appropriate, include any property accountable to that subcontract in their analysis of the Buyer. This support property administration applies to the property analysis and represents no change to the Seller to subcontractor relationship with respect to plant clearance, Loss, Damage, Destruction, or Theft (LDDT), and property reporting.