Common use of DEFECTIVE MANAGEMENT INFORMATION Clause in Contracts

DEFECTIVE MANAGEMENT INFORMATION. The Supplier acknowledges that it is essential that the Authority receives timely and accurate Management Information pursuant to this Framework Agreement because Management Information is used by the Authority to inform strategic decision making and allows it to calculate the Management Charge. An “MI Failure” shall occur when an MI Report: contains any material errors or material omissions or a missing mandatory field; or is submitted using an incorrect MI Reporting Template; or is not submitted by the Reporting Date (including where a Nil Return should have been filed. Following an MI Failure the Authority may issue a reminder to the Supplier or require the Supplier to rectify the defects in the MI Report provided to the Authority. The Supplier shall rectify any deficient or incomplete MI Report as soon as possible and within five (5) Working Days of receipt of a reminder or the issue of any request to rectify a defect.