Budget details and Payment Forecast by Partner. 1. The Lead Partner is the sole responsible party to the INTERREG IVC Managing Authority and Monitoring Committee for the budgetary and financial management of the project. The Lead Partner shall be responsible for the realisation and the transfer of payment claims to its partners as well as for an application for reallocation between budget components by the partner as defined in the Subsidy Contract Section 2.2. For each financial report, following the payment of programme funds to the Lead Partner, the Lead partner shall transfer immediately the sums assigned to each partner. No deduction, retention or further specific charge shall be made.
Budget details and Payment Forecast by Partner. 1. The Lead Partner is the sole responsible party to the INTERREG IVC Managing Authority and Monitoring Committee for the budgetary and financial management of the project. The Lead Partner shall be responsible for the realisation and the transfer of payment claims to its pro- ject partners as well as for an application for reallocation between budget components by the project partner as defined in the Subsidy Contract, Section 2.2. For each financial report, fol- lowing the payment of programme funds to the Lead Partner, the Lead partner shall transfer immediately the sums assigned to each project partner. No deduction, retention or further specific charge shall be made; however, the right to suspend payments as referred to in Arti- cle 8.4 shall remain unaffected.
