Common use of Retention of Accounting Records Clause in Contracts

Retention of Accounting Records. Financial records, supporting documents, statistical records, and a l other records including electronic storage media pertinent to the Project sha l be retained for a period of five (5) years after the close out of the grant. If any litigation or audit is initiated, or claim made, before the expiration of the five-year period, the records sha l be retained until the litigation, audit, or claim has been resolved.

Retention of Accounting Records. Financial records, supporting documents, statistical records, records and a l other records records, including electronic storage media pertinent to the Project Project, sha l be retained for a period of five (5) fiscal years after the close out closeout of the grantgrant and release of the audit. If any litigation or audit is initiated, initiated or claim made, made before the expiration of the five-year period, the records sha l be retained until for five fiscal years after the litigation, audit, audit or claim has been resolved.