Bank interests Sample Clauses

Bank interests. The Humanitarian Organisation shall inform the Commission of the amount of any interest or equivalent benefits yielded by the pre-financing payment received from the Commission. Interest earned by the Organisation shall be identified as such and reflected in reports to the Commission. If the interests in question represent a significant amount, they shall be reimbursed to the Commission once a year. The interests shall not be treated as a receipt for the Operation.
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Bank interests. For Multi-donor Actions, the International Organisation’s rules and procedures pertaining to bank interest shall apply, and an equal treatment among donors shall be ensured. This is based on the understanding that these rules and procedures conform to internationally accepted standards. In all other cases, interest earned by the Organisation shall be identified as such and reflected in reports to the Commission. Interest earned shall be reimbursed to the Commission.
Sample 1

Related to Bank interests

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