
Concourse D Hardstand Holdroom
Appendix B: Lump Sum Audit Clause Example
A.
Records for all contracts, specifically including but not limited to lump sum contracts (i.e. fixed
price or stipulated sum contracts), unit price, cost plus or time & material contracts with or
without a guaranteed maximum (or not-to-exceed amounts) shall upon reasonable notice be
open to inspection and subject to audit, scanning, and/or reproduction during normal business
working hours. Such audits may be performed by any Owner's representative or any outside
representative engaged by Owner for the purpose of examining such records. The Owner or
its designee may conduct such audits or inspections throughout the term of this contract and for
a period of three years after final payment or longer if required by law. Owner's
representatives may (without limitation) conduct verifications such as counting employees at
the Construction Site, witnessing the distribution of payroll, verifying information and amounts
through interviews and written confirmations with Contractor employees, field and agency
labor, subcontractors, and vendors.
B.
Contractor's "records" as referred to in this Exhibit shall include any and all information,
materials and data of every kind and character, including without limitation, records, books,
papers, documents, subscriptions, recordings, agreements, purchase orders, leases,
contracts, commitments, arrangements, notes, daily diaries, e-mails, superintendent reports,
drawings, receipts, vouchers and memoranda, and any and all other agreements, sources of
information and matters that may in Owner's judgment have any bearing on or pertain to any
matters, rights, duties or obligations under or covered by any Contract Document. Such
records shall include written policies and procedures; time sheets; payroll registers; payroll
records; cancelled payroll checks; subcontract files (including proposals of successful and
unsuccessful bidders, bid recaps, negotiation notes, etc.); original bid estimates; estimating
work sheets; correspondence; change order files (including documentation covering
negotiated settlements); back charge logs and supporting documentation; invoices and
related payment documentation; general ledger, information detailing cash and trade
discounts earned, insurance rebates and dividends; and any other contractor records which
may have a bearing on matters of interest to the Owner in connection with the contractor's
dealings with the Owner.
C.
Contractor shall require all payees receiving $10,000 or more in connection with this contract
(examples of payees include subcontractors, material suppliers, insurance carriers, etc.) to
comply with the provisions of this article by including the requirements hereof in a written
contract agreement between Contractor and payee. Contractor will ensure that all payees
(including those entering into lump sum contracts) have the same right to audit provisions
contained in this contract.
D. Owner's authorized representative(s) shall have reasonable access to the Contractor's facilities,
shall be allowed to interview all current or former employees to discuss matters pertinent to the
performance of this contract and shall be provided adequate and appropriate work space, to
conduct audits in compliance with this article.
If an audit inspection or examination in accordance with this article, discloses overpricing or
overcharges to the Owner (of any nature) by the Contractor and/or the Contractor's Subcontractors
more than $100,000 in addition to adjusting for the overcharges, the reasonable actual cost of the
Owner's audit shall be reimbursed to the Owner by the Contractor. Any adjustments and/or payments
which must be made because of any such audit or inspection of the Contractor's invoices and/or
records shall be made within a reasonable amount of time (not to exceed 90 days) from presentation
of Owner's findings to Contractor.