EGI-Engage:Advance Payments

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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 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 euros (~10 budget months equivalent)
  • 25% at M10, 900,000 euros (~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.