EST Advance Payments
Advance payments
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%).