Open book basis of Agreement Sample Clauses

Open book basis of Agreement. (a) Without limiting any other Clause of this Agreement, the State has the right to request that the Operator make available to the State any information, records and other documentation in whatever form which relate to this Agreement, the Services and the Project on an open book basis, provided that information, records and other documentation relating to the builders preliminaries, labour, equipment, materials, subcontract, finance, overhead, administrative and other costs and profit margins will only be requested and used by the State for the purposes of verifying all relevant costs for Facility Variations and Expansion Works.
Sample 1
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Open book basis of Agreement. ‌ The State has the right to request that the Contractor make available to the State any information or any Records in whatever form which relate to this Agreement, the Prison or the Services on an open book basis. For the purposes of this clause 16.12, ‘open book basis’ includes the Contractor providing to the State any information or Records in a timely, clear and transparent manner which allows the State to properly understand the information or Records and making available appropriately qualified personnel to explain the information or Records and answer any questions the State may have in respect of the information or Records.
Sample 1
Open book basis of Agreement. (a) Subject to Clause 28.3 and without limiting any other clause of this Agreement, the State has the right to request that the Operator make available to the State any records and other documentation which:
Sample 1
Open book basis of Agreement. (a) Subject to Clause 1.7 and Clause 48(c) and without limiting any other Clause of this Agreement, the State has the right to request that Project Co make available to the State any information, records and other documentation in whatever form which relate to this Agreement, the DBFM Works, the Services or the DBFM Project on an open book basis.
Sample 1

Related to Open book basis of Agreement

  • Basis of Agreement Subject to the terms and conditions herein provided, during the period of this Agreement, the Managers shall carry out Management Services in respect of the Vessel as agents for and on behalf of the Owners. The Managers shall have authority to take such actions as they may from time to time in their absolute discretion consider to be necessary to enable them to perform this Agreement in accordance with sound ship management practice.

  • Basis of Accrual If the basis of accrual of interest or fees expressed in this Agreement with respect to the currency of any state that becomes a participating state shall be inconsistent with any convention or practice in the London Interbank Market or, as the case may be, the Paris Interbank Market for the basis of accrual of interest or fees in respect of the euro, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a participating member state; provided, that if any Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such Loan, at the end of the then current Interest Period.

  • Basis of Award No additional documents submitted by a Bidder should be incorporated in the contract unless it is specifically identified and incorporated by reference in the attached contract document. Balance of page intentionally left blank

  • Objectives of Agreement 2.1 The objectives of the Agreement are:

  • Basis of Computation Interest accrued hereunder shall be computed for the actual number of days elapsed on the basis of a 360-day year.

  • Basis of compilation This statement of eligible expenditure has been prepared to meet the requirements of the grant agreement between [enter Grantee name] and the Commonwealth represented by the Department of Industry, Science, Energy and Resources. Significant accounting policies applied in the compilation of the statement of grant income and expenditure include the following: [enter details] Certification by directors [if not director, replace with appropriate equivalent] [Grantee name] [Project number] For the period [dd/ mm/yyyy] to [dd/ mm/yyyy] We confirm that, to the best of our knowledge and believe, having made such enquiries as we considered necessary for the purpose of appropriately informing ourselves: Statement of grant income and expenditure We have fulfilled our responsibilities for the preparation of the statement of grant income and expenditure in accordance with the cash basis of accounting and the terms of the grant agreement with the Commonwealth, represented by the Department of Industry, Science, Energy and Resources dated [enter date]; in particular, the statement of grant income and expenditure presents fairly in accordance therewith. All events subsequent to the date of the statement of grant income and expenditure which require adjustment or disclosure so as to present fairly the statement of grant income and expenditure, have been adjusted or disclosed. [Where applicable] The effects of uncorrected misstatements are immaterial, both individually and in the aggregate, to the statement of grant income and expenditure as a whole. A list of the uncorrected misstatements is attached to this representation letter. That all Grantee contributions and other financial assistance were spent for the purpose of the project and in accordance with the grant agreement and that the Grantee has complied with the grant agreement and relevant accounting policies. That salaries and allowances paid to persons involved in the project are in accordance with any applicable award or agreement in force under any relevant law on industrial or workplace relations. Signature Name [enter name] Director Date [dd/mm/yyyy] Signature Name [enter name] Director Date [dd/mm/yyyy] For Auditor use only I certify that this statement of grant income and expenditure is the one used to prepare my independent audit report dated [enter date] for the Department of Industry, Science, Energy and Resources. Signature Name [enter name] Position [enter position] Auditor’s employer [enter employer name] Date [dd/mm/yyyy] Attachment B - Independent audit report Background for auditors The purpose of the independent audit report is to provide us with an auditor's opinion on the Grantee’s statement of grant income and expenditure. The statement of grant income and expenditure is prepared by the Grantee to correspond with the expenditure reported to the department by the Grantee for the same period, in the process of claiming grant payments. The independent audit report must be prepared by a person who is an approved auditor. An approved auditor is a person who is: registered as a company auditor under the Corporations Xxx 0000 or an appropriately qualified member of Chartered Accountants Australia and New Zealand, or of CPA Australia or the Institute of Public Accountants; and not a principal, member, shareholder, officer, agent, subcontractor or employee of the Grantee or of a related body corporate or a Connected Entity. The audit should be undertaken and reported in accordance with Australian Auditing Standards. The independent audit report must follow the required format and include any qualification regarding the matters on which the auditor provides an opinion. We may follow up any qualifications with the Grantee or auditor. The independent audit report must be submitted on the auditor's letterhead. Auditors must comply with the professional requirements of Chartered Accountants Australia and New Zealand, CPA Australia and the Institute of Public Accountants in the conduct of their audit. If the auditor forms an opinion that the statement of grant income and expenditure does not give a true and fair view of the eligible expenditure for the period, the independent audit report should be qualified and the error quantified in the qualification section of the independent audit report. The required independent audit report format follows. Auditor’s report Independent audit report in relation to [Grantee name]’s statement of grant income and expenditure to the Commonwealth, represented by the Department of Industry, Science, Energy and Resources (the department). We have audited: the accompanying statement of grant income and expenditure of [Grantee name] for the period [dd/mm/yyyy] to [dd/mm/yyyy], a summary of significant accounting policies and other explanatory information, and management’s attestation statement thereon (together “the financial statement”). The financial statement has been prepared by management using the cash basis of accounting described in note 3.2 to the financial statement; and [Grantee name]'s compliance with the terms of the grant agreement between [Grantee name] and the Commonwealth dated [date of agreement] for the period [dd/mm/yyyy] to [dd/mm/yyyy] (the grant agreement). We have: reviewed [Grantee name]’s statement of labour costs in support of its claim of eligible expenditure[; and performed limited assurance procedures on [Grantee name]’s statement of employee numbers under the grant agreement]. Management’s responsibility Management is responsible for: the preparation and fair presentation of the financial statement in accordance with the basis of accounting described in note 3.2, this includes determining that the cash basis of accounting is an acceptable basis for the preparation of the financial statement in accordance with the grant agreement; compliance with the terms of the grant agreement; the preparation of the statement of employee numbers and labour costs in support of eligible expenditure; and such internal control as management determines is necessary to: enable the preparation of the financial statement and the statement of [employee numbers and ]labour costs that are free from material misstatement, whether due to fraud or error; and enable compliance with the terms of the grant agreement. Auditor’s responsibility Our responsibilities are: To express an opinion, based on our audit, on: the financial statement; and [Grantee name]’s compliance, in all material respects, with the terms of the grant agreement; and To conclude based on: our review procedures, on the statement of labour costs; and our limited assurance procedures on the statement of employee numbers. We conducted our audit of the financial statement in accordance with Australian Auditing Standards; our audit of compliance with the grant agreement in accordance with ASAE 3100, our review of the statement of labour costs in accordance with ASRE 2405[; and our limited assurance procedures on employee numbers in accordance with ASAE 3000]. The applicable Standards require that we comply with relevant ethical requirements and plan and perform our work to: obtain reasonable assurance about whether the financial statement is free from material misstatement and that [Grantee name] has complied, in all material respects, with the terms of the grant agreement; and obtain limited assurance as to whether anything has come to our attention that causes us to believe that the statements of employee numbers and labour costs are materially misstated. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statement and about the Grantee’s compliance with the grant agreement. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Grantee’s preparation and fair presentation of the financial statement, and to the Grantee’s compliance with the grant agreement, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Grantee’s internal control. An audit also includes evaluating the appropriateness of accounting policies used by management, as well as evaluating the overall presentation of the financial statement.

  • BASIS OF CONTRACT 2.1 The Order constitutes an offer by the Customer to purchase Goods and/or Services in accordance with these Conditions.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • Basis of Settlement Unless otherwise provided, the Insurer is not liable beyond the actual cash value of the property at the time any loss or damage occurs and the loss or damage shall be ascertained or estimated according to such actual cash value with proper deduction for depreciation, however caused, and shall in no event exceed what it would then cost to repair or replace the same with material of like kind and quality.

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

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