Difference between revisions of "EST Advance Payments"

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(Final payment)
(Final payment)
 
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== Final payment==
 
== Final payment==
  
Final costs submitted to the Commission have been accepted on November 20, 2013. The final distribution of the EC grant has been released on Friday 29 November. It includes the 5% saved from the initial pre-financing.
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Final costs submitted to the Commission have been accepted on November 20, 2013. The final distribution of the EC grant has been released on Friday 29 November. It includes the 5% saved on the PGF from the initial pre-financing.
  
 
- [https://documents.egi.eu/document/2043 Final payment tables]<br>
 
- [https://documents.egi.eu/document/2043 Final payment tables]<br>

Latest revision as of 13:27, 2 December 2013

Homepage eST quarterly reports eST Advance Payments eST Contractual documents eST Financial reports


Final payment

Final costs submitted to the Commission have been accepted on November 20, 2013. The final distribution of the EC grant has been released on Friday 29 November. It includes the 5% saved on the PGF from the initial pre-financing.

- Final payment tables
- EC participant finance sheets and summary overview



Year 2 payment

The acceptance of Year 2 costs statement are detailed in the attached financial statement acceptance forms. As the total amount of the pre-financing and interim payments has reached 90% of the maximum Union financial contribution (see Art.II.6.2), no additional interim payments shall be made to e-Science Talk.

This is the latest payment capped to 90% of the total budget, of which 5% is locked in the PGF until the closure of the project. Once the EC has validated the final costs and reporting they have 90 days to release the final payment equals to 90% of the total budget plus the 5% of the PGF.

Supporting documentationincludes:

  • Consolidated Overview
  • Summary Financial report
  • Participant-Finance-Sheet-Y2
  • Table distribution for Payment N3



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). 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%).