Europol Public Information  d  is the period for execution specified in a  Specific Contract  or  Purchase Order  or, failing that, the  period between the first implementation date specified in the Special Conditions and the date of  delivery or performance specified in the relevant  Specific Contract  or  Purchase Order , expressed  in calendar days.  Page 57 of 79  Europol’s initials:  Contractor’s initials:  6. Europol shall draw up a provisional report on the basis of the findings made during the audit. The  report shall be sent to the  Contractor , who has 30 (thirty) days following the date of receipt to  5. The  Contractor  must grant Europol staff and any authorised third-party personnel the appropriate  right of access to sites and premises where the  Framework Contract  is implemented and to all the  information, including information in electronic format, needed to conduct such checks and audits. The  Contractor  must ensure that the information is readily available at the moment of the check or  audit and that the information is handed over in the format as requested. 4. The  Contractor must keep all original documents stored on any appropriate medium, including  digitised originals if authorised under national law, for a period of 5 (five) years following the  payment of the balance of the last  Specific Contract  or  Purchase Order  implementing the  Framework  Contract . 3. The audit procedure shall be considered initiated on the date of receipt by the  Contractor  of the  relevant letter sent by Europol as applicable. Audits are carried out on a confidential basis.  2. Checks and audits may be initiated during the implementation of the  Framework Contract , at any  moment and up to 5 (five) years after the final payment under the last  Specific Contract  or  Purchase  Order . 1. Europol may check or require an audit on the implementation of the  Framework Contract . This may  be carried out either by Europol own staff or by any other third-party authorised to do so on  Europol’s behalf. 5. Any claim for liquidated damages does not affect the  Contractor’s actual or potential liability or  Europol’s rights to terminate the  Framework Contract  and/or  Specific Contract  or  Purchase Order or  the right to reduce payment in accordance with Article II-11 (“Reduction in payment and off- setting”) . 4. The parties expressly acknowledge and agree that any sums payable under this article are in the  nature of liquidated damages and not penalties, and represent a reasonable estimate of fair  compensation for the losses incurred due to failure to fulfil obligations which may be reasonably  anticipated.  3. If the  Contractor submits its written observations within the deadline specified in the paragraph  above, Europol must consider such observations in good faith and notify the  Contractor  in writing if  it accepts the  Contractor’s observations and therefore will not pursue liquidated damages or if it  rejects such observations and decides to impose them. 2. If Europol wishes to impose liquidated damages, it must send  Formal notification  to the  Contractor in writing of its intention and the applicable amount calculated in accordance with the formula  above. The  Contractor  may submit written observations on the formal notice within 30 (thirty) days  of its receipt. Europol is entitled to apply liquidated damages if the  Contractor’s written  observations are not submitted within the deadline specified. Checks and audits  Article II-24 