81.2  Books of Account

Compliance with clause 81.1 (Records and Open Book Accounting) shall require the Contractor to keep (and where appropriate to procure that each sub-contractor shall keep) books of account in accordance with best accountancy practices with respect to this Agreement, showing in detail:

81.2.1  administrative overheads;

81.2.2  payments to sub-contractors;

81.2.3  capital and revenue expenditure; and

81.2.4  such other items as the Authority may reasonably require from time to time to conduct costs audits for verification of cost expenditure or estimated expenditure, for the purpose of this Agreement.

and the Contractor shall have (and procure that its sub-contractors shall have) the books of account evidencing the items listed in sub-clauses 82.2.1-82.2.4 inclusive, available for inspection by the Authority (and its advisers) upon reasonable notice, and shall promptly present a written report of these to the Authority as and when requested from time to time.