Common use of Records of Defined Cost to be kept by the Contractor Clause in Contracts

Records of Defined Cost to be kept by the Contractor. The contractor keeps accurate and complete books of accounts, records and other evidence relating to the Actual Costs. These are opened to audit. All documentation is kept by Contractor for a period of three years following completion of this contract. This information is kept up to date at all times and the Service Manager shall have access to them at any time.