Difference between revisions of "EST Advance Payments"
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== Year 1 payment== | == Year 1 payment== | ||
The acceptance of Year 1 costs statement has resulted in a subsequent payment amounting to 450.051 Euros, detailed hereafter.<br> [https://documents.egi.eu/document/1030 Supporting documentation]includes:<br> | The acceptance of Year 1 costs statement has resulted in a subsequent payment amounting to 450.051 Euros, detailed hereafter. This is to be the latest advance payment until the closure of the project. The total funding received amounts to 85% of the total grant (+5% saved in the PGF). Since the 90% ceiling has been reached so 2872 € has been decreased to this payment. The reduction per partner has been done in proportion to the share of the total funding. <br> [https://documents.egi.eu/document/1030 Supporting documentation]includes:<br> | ||
* Table of distribution | * Table of distribution |
Revision as of 11:55, 1 March 2012
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Year 1 payment
The acceptance of Year 1 costs statement has resulted in a subsequent payment amounting to 450.051 Euros, detailed hereafter. This is to be the latest advance payment until the closure of the project. The total funding received amounts to 85% of the total grant (+5% saved in the PGF). Since the 90% ceiling has been reached so 2872 € has been decreased to this payment. The reduction per partner has been done in proportion to the share of the total funding.
Supporting documentationincludes:
- Table of distribution
- Summary Financial report
- Participant-Finance-Sheet-Y1
Pre-Financing No 1
A pre-financing payment equating to 53.33% of the total budget for the project was released from EC to EGI. From this, EGI is required to place 5% (of the total budget) in a Participant Guarantee Fund account managed by the European Investment Bank. When the project completes, this 5% will be returned to the participants with the final payment.
Table of prefinancing payments for the e-ScienceTalk beneficiaries
The subesequent payments will be processed after the acceptance of the annual financial reports and up to the total funding available for payment (usually 85%).