Open Book Accounting. The Contractor’s GMP shall be based on actual procured quotes and bids from Subcontractors, vendors, and suppliers or based on estimated costs. In addition, Contractor shall include an estimated overhead and profit line item along with the cost for Contractor supplied labor. This total construction cost, or Base Cost, shall be added to Subcontractor, vendor and supplier contingencies and the Construction Contingency (which includes an Errors and Omissions Contingency) to form the entire GMP. As costs are incurred during the course of the Project, the Job Cost Accounting shall be updated to include actual costs incurred. A report on costs shall be prepared as part of the GMP process and shall be provided on a regular basis to the District.
Open Book Accounting. The Councils agree to share information on open book principles to enable the effective working of the Pooled Services.
Open Book Accounting. 40.1 Payments made to the Contractor under this Clause 40 shall appear as Income on a separate profit and loss account (“the Open Book Account”) which shall be established and maintained by the Contractor under this Contract.
Open Book Accounting. The Partners agree to develop and improve the system of `open book accounting’ agreed during the negotiations and set out in the contract. The Partners agree that for the contract and the Partnership to be successful it must be based on sustainable, accurate and realistic operational performance and on clear and robust financial information, and further that is to their mutual benefit to share such information in confidence in order to develop trust and to better understand the pressures and market forces exerted on each of them. The Partners will at all times act reasonably and in good faith in relation to all matters that may arise under this Charter and the contract. This mutual commitment to each other includes an obligation on each Partner to ensure that the other Partner is not unduly prejudiced, financially or otherwise, as a result of the operation of the contract, the acts or omissions of the other Partner, market forces, changes of law or otherwise. Subject only to any requirements in law, the partners commit themselves not to disclose to any third party any commercially sensitive information unless by express written agreement of the other Partner.
Open Book Accounting. The Health Services Manager must:
Open Book Accounting. 8.6.1 Without prejudice to the rest of this Condition 8.6, the Service Provider shall, at the request of the Council, provide to the Council a Certificate of Costs within twenty one (21) Calendar Days of such request, provided that the Council may not request a Certificate of Costs more than once in any month of the Contract Term.
Open Book Accounting. 15.6a The Partners agree that from the date of this IAA they shall use open book accounting at all times in relation to the calculation of the Enabling and Containerisation Payments and any collection, management, depot and/or transfer costs that would have been incurred if the IAA had not been entered into. Any Partner shall be entitled to inspect the accounts of any other Partner at any time 15.6b Invoices will be raised [ ] and payments made by [ ] to [ ] within [ ] days of [ ]
Open Book Accounting. Central to this Partnering Arrangement is the confidence the partners have in each other’s commitment to share general business information, including cost information. Open Book Accounting is one of the tools available to achieve this. Open book accounting can be described as an arrangement where access to financial information of both parties is available including cost of supplies, wage rates and overheads, so that all parties can work together to reduce cost and ensure that value for money is achieved. Reasons for employing an open-book approach vary but it is agreed that it supports the principles of Best Value, the ethos of partnering and has the potential to generate the often elusive cost savings.
Open Book Accounting. 21.3 For Lot 2 the list below will be required on a monthly/quarterly basis, as a minimum: ▪ No. of mini competitions per month and successful awards (inc. Framework Public Body details, products, services, estimated contract value, etc.) ▪ Organisation name and contact details ▪ Contract information – dates, duration, estimated value ▪ Details of products / services requested ▪ Mini-competition weightings
Open Book Accounting. 26.1 The Supplier shall operate and maintain for the term of this Agreement an open and transparent system of pricing and charging for the Services and an accessible costs accounting system which shall provide DCC and its representatives on an ongoing basis with full details of the Charges being invoiced and the Services to which they relate, including transparent details of how those Charges are made up.
