/Docs/G/NIH-License-Patent-Exclusive-CmA/Sec/0.md
Source views: Source JSON(ish) on GitHub (VSCode) Doc views: Document (&k=RecordKeeping.LI): Visual Print Technical: OpenParameters Xray
Record Keeping
- Licensee agrees to keep accurate and correct records of the Licensed Products made, used, sold, or imported and the Licensed Processes practiced under this Agreement appropriate to determine the amount of royalties due IC.
- These records shall be retained for at least five (5) years following a given reporting period and shall be available during normal business hours for inspection, at the expense of IC, by an accountant or other designated auditor selected by IC for the sole purpose of verifying reports and royalty payments hereunder.
- The accountant or auditor shall only disclose to IC information relating to the accuracy of reports and royalty payments made under this Agreement.
- If an inspection shows an underreporting or underpayment in excess of five percent (5%) for any twelve (12) month period, then Licensee shall reimburse IC for the cost of the inspection at the time Licensee pays the unreported royalties, including any additional royalties as required by Paragraph 9.8.
- All royalty payments required under this Paragraph shall be due within sixty (60) days of the date IC provides to Licensee notice of the payment due.