Common use of Contract Verification Clause in Contracts

Contract Verification. From time to time, Agent may forward to all contractors, subcontractors, material suppliers, architects, engineers and other parties listed on any Draw Request, a contract verification to ascertain the correctness of the amount of the contract for each contractor, subcontractor, material supplier, architect, engineer and any other party as contained on the statement. In the event of any discrepancy between the amounts shown by the executed copies of the contracts, the Draw Request, and the verification of contract forms, Agent shall have the right to require that such discrepancies be eliminated to its full satisfaction.