Forma Construction Company 10/29/2024

the Contractor, Subcontractor, and Supplier to claim or be compensated for any damages, additional time or money under this Contract and shall bar any recovery there under. D. Inspection, audit, and/or copying of Project Records may be performed by the City at any time with not less than fourteen (14) days written notice; provided however, if an audit is to be commenced more than sixty (60) days after Final Acceptance of the Contract, the Contractor will be given thirty (30) days' notice of the time when the audit or inspection is to begin. E. The Contractor and its Subcontractors and Suppliers shall provide adequate facilities, acceptable to the City, for inspection, auditing, and/or copying during normal business hours. F. No additional compensation will be provided to the Contractor, its Subcontractors, or Suppliers for time or money spent in complying with the requirements of this Audit section. If the Contractor is formally dissolved, assigns, or otherwise divests itself of its legal capacity under this Contract, then it will immediately notify the City and preserve such records at its expense, as directed by the City. G. This Audit Section shall survive for six (6) years after the termination or expiration of this Contract, or conclusion of all Claims, audits or litigation, whichever occurs later. H. At a minimum the following documents shall be considered Project Records and made available for inspection, auditing, and copying: i. Daily time cards, time-sheets, daily reports, inspection reports, and supervisor’s reports; ii. Insurance, welfare, and benefits records; iii. Payroll registers; iv. Earnings records; v. All relevant tax forms and records, including any state and federal payroll tax rate schedules governing the employer’s payroll tax rates paid on behalf of employees that work on the project and any payroll tax forms summarizing the amounts paid; vi. Material invoices and requisitions; vii. Material cost distribution worksheets; viii. Equipment records including a list of company-owned equipment and an equipment distribution report containing equipment descriptions, equipment number, equipment rates, recorded equipment hours, phase or cost codes, dates, and any other relevant information as related to how the equipment was recorded to the project; ix. Contractors’ rental agencies’, Subcontractors’, and lower tier subcontractors’ invoices; x. Contracts, purchase orders and agreements between the Contractor and each of its Subcontractors, and all lower tier subcontractor contracts and supplier contracts; xi. Subcontractor’s and lower tier subcontractors’ payment certificates/payment applications;