Difference between revisions of "EGI-Engage:Advance Payments"

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[[Category:EGI-Engage]]
 
[[Category:EGI-Engage]]
  
The project budget amounts to 8,000,000. The pre-financing amounts to 50% of the total budget of which 5% is transferred to the Participant Guarantee Fund (PGF).
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The project budget amounts to '''8,000,000 euros'''. The pre-financing amounts to 50% of the total budget of which 5% is transferred to the Participant Guarantee Fund (PGF).
 
The maximum amount of the pre-financing and interim payments cannot exceed 85% of the total budget (90% minus 5% transferred to the PGF).  
 
The maximum amount of the pre-financing and interim payments cannot exceed 85% of the total budget (90% minus 5% transferred to the PGF).  
 
The payment schedule, which contains the transfer of pre-financing and interim payment to Parties will be handled according to the following planning:
 
The payment schedule, which contains the transfer of pre-financing and interim payment to Parties will be handled according to the following planning:
  
i- Pre-Financing: 3,600,000
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'''<br /> i- Pre-Financing: 3,600,000 euros'''
 
It is equivalent to 13.5 budget months. It will be repaid to Parties as follows:
 
It is equivalent to 13.5 budget months. It will be repaid to Parties as follows:
 
- 75% at the signature of the Consortium Agreement or upon reception depending which one is last,  2,700,000 (~10 budget months equivalent);
 
- 75% at the signature of the Consortium Agreement or upon reception depending which one is last,  2,700,000 (~10 budget months equivalent);
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A new schedule can be proposed if the signature of the Consortium Agreement is overly delayed.
 
A new schedule can be proposed if the signature of the Consortium Agreement is overly delayed.
  
ii- Interim costs
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'''<br /> ii- Interim costs'''
 
The interim payments will reimburse the accepted funded costs incurred during the project reporting period;
 
The interim payments will reimburse the accepted funded costs incurred during the project reporting period;
 
- P1: March 1st, 2015 to February 29th, 2016 (M1-M12)
 
- P1: March 1st, 2015 to February 29th, 2016 (M1-M12)
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The total amount of the pre-financing plus interim payments cannot exceed the share of the beneficiary caped to 85% of its grant.
 
The total amount of the pre-financing plus interim payments cannot exceed the share of the beneficiary caped to 85% of its grant.
  
iii- Payment of the balance: 1,200,000 (10% of total budget + 5% of PGF)
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'''<br /> iii- Payment of the balance: 1,200,000 euros (10% of total budget + 5% of PGF)'''
 
It will be repaid by the Commission upon approval of the final report. It is calculated by deducting the amount of the pre-financing and interim payment from the total grant claimed and accepted by the Parties.
 
It will be repaid by the Commission upon approval of the final report. It is calculated by deducting the amount of the pre-financing and interim payment from the total grant claimed and accepted by the Parties.
 
The Coordinator is entitled to withhold any payments due to a Party identified by the CB to be in breach of its obligations under this Consortium Agreement or the Grant Agreement or to a Beneficiary, which has not yet signed this Consortium Agreement.
 
The Coordinator is entitled to withhold any payments due to a Party identified by the CB to be in breach of its obligations under this Consortium Agreement or the Grant Agreement or to a Beneficiary, which has not yet signed this Consortium Agreement.
 
The Coordinator is entitled to recover any advanced payments already paid to a Defaulting Party. The Coordinator is equally entitled to withhold payments to a Party only when this is suggested by or agreed with the Funding Authority.
 
The Coordinator is entitled to recover any advanced payments already paid to a Defaulting Party. The Coordinator is equally entitled to withhold payments to a Party only when this is suggested by or agreed with the Funding Authority.

Revision as of 22:11, 19 May 2015

EGI-Engage project: Main page WP1(NA1) WP3(JRA1) WP5(SA1) PMB Deliverables and Milestones Quality Plan Risk Plan Data Plan
Roles and
responsibilities
WP2(NA2) WP4(JRA2) WP6(SA2) AMB Software and services Metrics Project Office Procedures


EGI-Engage Project Office: Contact details Contracts, Minutes Reimbursing procedures Project reporting Advance Payments Financial reports Project Administration Archive


The project budget amounts to 8,000,000 euros. The pre-financing amounts to 50% of the total budget of which 5% is transferred to the Participant Guarantee Fund (PGF). The maximum amount of the pre-financing and interim payments cannot exceed 85% of the total budget (90% minus 5% transferred to the PGF). The payment schedule, which contains the transfer of pre-financing and interim payment to Parties will be handled according to the following planning:


i- Pre-Financing: 3,600,000 euros
It is equivalent to 13.5 budget months. It will be repaid to Parties as follows: - 75% at the signature of the Consortium Agreement or upon reception depending which one is last,  2,700,000 (~10 budget months equivalent); - 25% at M10,  900,000 (~3.5 budget months equivalent). A new schedule can be proposed if the signature of the Consortium Agreement is overly delayed.


ii- Interim costs
The interim payments will reimburse the accepted funded costs incurred during the project reporting period; - P1: March 1st, 2015 to February 29th, 2016 (M1-M12) - P2: March 1st, 2016 to August 31st, 2017 (M13-M30) The payments calculation cannot exceed the funded costs accepted in the reporting period. The proposed payments will seek approval of the PMB; clarifications may be requested to justify excessive over or under spending of the grant during the reporting period. The total amount of the pre-financing plus interim payments cannot exceed the share of the beneficiary caped to 85% of its grant.


iii- Payment of the balance: 1,200,000 euros (10% of total budget + 5% of PGF)
It will be repaid by the Commission upon approval of the final report. It is calculated by deducting the amount of the pre-financing and interim payment from the total grant claimed and accepted by the Parties. The Coordinator is entitled to withhold any payments due to a Party identified by the CB to be in breach of its obligations under this Consortium Agreement or the Grant Agreement or to a Beneficiary, which has not yet signed this Consortium Agreement. The Coordinator is entitled to recover any advanced payments already paid to a Defaulting Party. The Coordinator is equally entitled to withhold payments to a Party only when this is suggested by or agreed with the Funding Authority.