Content Headings

Key Issues

Example clauses

Notes and References

Records and Reports

(a)  The Concessionaire shall at all times:

(i)  maintain a full record of particulars of the costs of performing the Service, including those relating to the design, construction, maintenance, operation and finance;

(ii)  when requested by the Authority, provide a summary of any of the costs referred to in paragraph (i), including details of any funds held by the Concessionaire specifically to cover such costs, in such form and detail as the Authority may reasonably require to enable the Authority to monitor the performance by the Concessionaire of its obligations under this Contract;

(iii)  provide such facilities as the Authority may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Clause6; and

(iv)  at the request of the Authority, provide to the Authority any information provided by it to the Senior Lenders during the term of the Contract.

(b)  Compliance with the above shall require the Concessionaire to keep (and where appropriate shall procure that the Sub-Contractors shall keep) books of account in accordance with best accountancy practice with respect to the Contract showing in detail:

(i)  administrative overheads;

(ii) payments made to Sub-Contractors;

(iii) capital and revenue expenditure;

(iv) such other items as the Authority may reasonably require to conduct cost audits for verification of cost expenditure or estimated expenditure, for the purpose of Clause

and the Concessionaire shall have (and procure that the Sub-contractors shall have) the books of account evidencing the items listed in paragraphs (i) to (iv) available for inspection by the Authority (and any expert) upon reasonable notice, and shall present a report of these to the Authority as and when requested.

(c)  The Concessionaire shall maintain or procure that the following are maintained:

(i)  a full record of all incidents relating to health, safety and security which occur during the term of the Contract; and

(ii)  full records of all maintenance procedures carried out during the term of the Contract,

and the Concessionaire shall have the items referred to in paragraphs (i) and (ii) available for inspection by the Authority upon reasonable notice, and shall present a report of them to the Authority as and when requested.

(d)  The Concessionaire shall permit records referred to in this Clause to be examined and copied by the Controller and other representatives of the Authority, and by [the Comptroller and Auditor General and his representativesg].

(e)  The records referred to in this Clause shall be retained for a period of at least [5] years after the Concessionaire's obligations under the Contract have come to an end.

(f)  Upon termination of the Contract, and in the event that the Authority wishes to enter into another contract for the operation and management of the Project the Concessionaire shall (and shall ensure that the Sub-Contractors will) comply with all reasonable requests o he Authority to provide information relating to the Concessionaire's costs of operating and maintaining the Project.

(g)  All information referred to in this Clause is subject to the obligations set out in Clause [Information and Confidentiality].

Example clause adapted from Office of Government Commerce, UK, Standardisation of PFI Contracts - General, index reference C1, folder 5.