Common use of Inspection & Audit Clause in Contracts

Inspection & Audit. Client shall maintain such books and records as are necessary to demonstrate Client's compliance with its obligations under this Agreement and to verify that Client has paid eFunds all license, maintenance and other service fees in accordance with this Agreement. eFunds or eFunds' auditors shall, upon reasonable notice have the right to inspect and audit those books, records, systems and operations of Client as necessary for eFunds to ascertain the correctness of fees due and paid/payable to eFunds hereunder, and for eFunds to ascertain compliance by Client with its obligations under this Agreement. If any audit reveals underpayment by Client, Client shall immediately rectify same, subject to subsection 18 n) above. If any underpayment is five percent (5%) or greater of amounts due, Client shall bear eFunds' expenses associated with such audit.