verify the accuracy of the Charges and any other amounts payable by a Contracting Authority under a Call Off Contract (including proposed or actual variations to them in accordance with this Framework Agreement); verify the of the Supplier (including the costs of all Sub-Contractors and any third party suppliers) in connection with the provision of the Services; verify the Open Book Data; verify the Supplier’s and each Sub-Contractor’s compliance with the applicable Law; identify or investigate actual or suspected Prohibited Acts, impropriety or accounting mistakes or any breach or threatened breach of security and in circumstances the Authority shall have no obligation to inform the Supplier of the purpose or objective of its investigations; identify or investigate any circumstances which may impact upon the financial stability of the Supplier [,the Framework Guarantor and/or the Call Off Guarantor] and/or any Sub-Contractors or their ability to perform the Services; [Guidance note: Delete where a Framework/Call Off Guarantee is not applicable.] obtain such information as is necessary to fulfil the Authority’s obligations to supply information for parliamentary, ministerial, judicial or administrative purposes including the supply of information to the Comptroller and Auditor General; review any books of account and the internal contract management accounts kept by the Supplier in connection with this Framework Agreement; carry out the Authority’s internal and statutory audits and to prepare, examine and/or certify the Authority's annual and interim reports and accounts; enable the National Audit Office to carry out an examination pursuant to Section 6(1) of the National Audit Act 1983 of the economy, efficiency and effectiveness with which the Authority has used its resources; verify the accuracy and completeness of any Management Information delivered or required by this Framework Agreement; review any MI Reports and/or other records relating to the Supplier’s performance of the Services and to verify that these reflect the Supplier’s own internal reports and records; review the integrity, confidentiality and security of the Authority Personal Data; and/or receive from the Supplier on request summaries of all central government public sector expenditure placed with the Supplier including through routes outside the Framework in order to verify that the Supplier’s practice is consistent with the Government’s transparency agenda which requires all public sector bodies to publish details of expenditure on common goods and services.
The Authority may provide the Supplier with supplemental guidance for completing the MI Reporting Template or submitting MI Reports from time to time which may for example indicate which fields are mandatory and which are optional. The Supplier agrees to complete the Monthly MI Report in accordance with any such guidance. The Supplier may not make any amendment to the current MI Reporting Template without the prior Approval of the Authority. The Authority shall have the right from time to time (on reasonable written notice) to amend the nature of the Management Information which the Supplier is required to supply to the Authority. FREQUENCY AND COVERAGE All MI Reports must be completed by the Supplier using the MI Reporting Template and returned to the Authority on or prior to the Reporting Date every Month during the Framework Period and thereafter, until all transactions relating to Call Off Contracts have permanently ceased. The MI Report should be used (among other things) to report Orders received and transactions occurring during the Month to which the MI Report relates, regardless of when the work was actually completed. For example, if an invoice is raised for October but the work was actually completed in September, the Supplier must report the invoice in October's MI Report and not September's. Each Order received by the Supplier must be reported only once when the Order is received. The Supplier must return the MI Report for each Month even where there are no transactions to report in the relevant Month (a "Nil Return"). The Supplier must inform the Authority of any errors or corrections to the Management Information: in the next MI Report due immediately following discovery of the error by the Supplier; or as a result of the Authority querying any data contained in an MI Report. SUBMISSION OF THE MONTHLY MI REPORT The completed MI Report shall be completed electronically and returned to the Authority by uploading the electronic MI Report computer file to MISO in accordance with the instructions provided in MISO. The Authority reserves the right (acting reasonably) to specify that the MI Report be submitted by the Supplier using an alternative communication to that specified in paragraph 4.1 above such as email. The Supplier agrees to comply with any such instructions provided they do not materially increase the burden on the Supplier. DEFECTIVE MANAGEMENT INFORMATION The Supplier acknowledges that it is essential that the Authority receives timely and accurate Management Information pursuant to this Framework Agreement because Management Information is used by the Authority to inform strategic decision making and allows it to calculate the Management Charge.
the Supplier fails to notify the Authority of a Financial Distress Event in accordance with paragraph 2.4; the Parties fail to agree a Financial Distress Service Continuity Plan (or any updated Financial Distress Service Continuity Plan) in accordance with paragraphs 3.3 to 3.5; and/or the Supplier fails to comply with the terms of the Financial Distress Service Continuity Plan (or any updated Financial Distress Service Continuity Plan) in accordance with paragraph 3.6.3. PRIMACY OF CREDIT RATINGS Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 3, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 3.1.1 to 3.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 3.3 to 3.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 3.3.2(b). ANNEX 1: RATING AGENCIES Rating Agency - Dunn and Bradstreet ANNEX 2: CREDIT RATINGS & CREDIT RATING THRESHOLDS Entity Credit rating (long term) Credit Rating Threshold Supplier 51 51 [Framework Guarantor/ [and Call Off Guarantor] 51 51 FRAMEWORK SCHEDULE 17: COMMERCIALLY SENSITIVE INFORMATION INTRODUCTION In this Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Framework Schedule 17 applies.