Common use of Advance Disbursements Clause in Contracts

Advance Disbursements. In most instances, payments to a Grantee will be made on a cost reimbursable basis. If the Authority determines that cost reimbursement will significantly inhibit the Grantee’s ability to perform the Project and determines that an advance is in the public interest, the Authority may recommend an advance to the Grantee of an amount not to exceed a projected thirty (30) day cash need, or twenty percent (20%) of the grant amount, whichever amount is less. Before the Authority will issue an advance, the Grantee must provide in writing, and the Authority must approve a “Request for Advance Payment” form which includes: a. justification of the need for the advance; b. documentation of anticipated line item costs associated with the advance. All advances will be recovered with the Grantee’s next Financial/Progress Report form. Should earned payments during the terms of this Grant Agreement be insufficient to recover the full amount of the advance, the Grantee will repay the unrecovered amount to the Authority when requested to do so by the Authority, or at termination of the Grant Agreement.

Advance Disbursements. In most instances, payments to a Grantee will be made on a cost reimbursable basis. If the Authority determines that cost reimbursement will significantly inhibit the Grantee’s Grantee‟s ability to perform the Project and determines that an advance is in the public interest, the Authority may recommend an advance to the Grantee of an amount not to exceed a projected thirty (30) day cash need, or twenty percent (20%) of the grant amount, whichever amount is less. Before the Authority will issue an advance, the Grantee must provide in writing, and the Authority must approve a “Request for Advance Payment” form which includes: a. justification of the need for the advance;, b. documentation of anticipated line item costs associated with the advance. All advances will be recovered with the Grantee’s Grantee‟s next Financial/Progress Report form. Should earned payments during the terms of this Grant Agreement be insufficient to recover the full amount of the advance, the Grantee will repay the unrecovered amount to the Authority when requested to do so by the Authority, or at termination of the Grant Agreement.

Advance Disbursements. (If allowed)‌ In most instances, payments to a Grantee will be made on a cost reimbursable basis. If the Authority determines that cost reimbursement will significantly inhibit the Grantee’s ability to perform the Project and determines that an advance is in the public interest, the Authority may recommend an advance to the Grantee of an amount not to exceed a projected thirty (30) day cash need, or twenty percent (20%) of the grant amount, whichever amount is less. Before the Authority will issue an advance, the Grantee must provide in writing, and the Authority must approve a “Request for Advance Payment” form which includes: a. justification of the need for the advance;, b. documentation of anticipated line item costs associated with the advance. All advances will be recovered with the Grantee’s next Financial/Progress Report form. Should earned payments during the terms of this Grant Agreement be insufficient to recover the full amount of the advance, the Grantee will repay the unrecovered amount to the Authority when requested to do so by the Authority, or at termination of the Grant Agreement.