45A.410 Inspection of contractor's place of business -- Audit of records.

225 words·~1 min read·/ky/chapter-45a/45a-410

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The local public agency may inspect the plant or place of business of a contractor or

any subcontractor under any contract awarded or to be awarded by the local public

agency.

(2)The local public agency may audit the books and records of any person who has

submitted cost or pricing data under KRS 45A.405, at any time until the period of

record retention as set forth in subsection

(3)of this section shall have expired. The

right to audit hereunder shall only extend to those books and records reasonably

connected with cost or pricing data submitted under KRS 45A.420, and such books

and records shall be maintained by the contractor or subcontractor for the period

specified in subsection

(3)of this section.

(3)The local public agency shall be entitled to audit the books and records of a

contractor or any subcontractor under any negotiated contract or subcontract other

than a firm fixed-price type contract, provided, however, that this subparagraph

shall not limit the right to audit as set forth in subsection

(2)of this section. Such

books and records shall be maintained by the contractor for a period of five

years from the date of final payment under the prime contract and by the

subcontractor for a period of five

(5)years from the date of final payment under the

subcontract.