Common use of Budgeting Clause in Contracts

Budgeting. The budget set out in the Consortium Plan shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties. Above all management challenges require effective and regular (re-)budgeting of all resources needed to execute the Project, taking into account that 15% of the maximum contribution will only be paid to the consortium after the end of the project. As a consequence of the (re-)budgeting process an updated Consortium Plan will be issued. The consortium may face the need to fine tune for different funding modes (eligible costs, lump sum, flat rate and scale of unit costs) within the Project. The various schemes may be imposed by the Funding Authority and/or implemented at the request of the consortium. As a consequence these will be reflected in the budget and the payment scheme for the related task. Referring to Innovation Actions that are coordinated by a for-profit organization that thus only receives a funding rate of 70% it may be discussed in the consortium whether an additional agreement should be found on who will cover the major shares of management and dissemination costs.

Budgeting. The budget set out in the Consortium Plan shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties. Above all management challenges require effective and regular (re-)budgeting of all resources needed to execute the Project, taking into account that 15% of the maximum contribution will only be paid to the consortium after the end of the project. As a consequence of the (re-)budgeting process an updated Consortium Plan will be issued. The consortium may face the need to fine tune for different funding modes (eligible costs, lump sum, flat rate and scale of unit costs) within the Project. The various schemes may be imposed by the Funding Authority and/or implemented at the request of the consortium. As a consequence these will be reflected in the budget and the payment scheme for the related task. Referring to Innovation Actions that are coordinated by a for-profit organization organisation that thus only receives a funding rate of 70% it may be discussed in the consortium whether an additional agreement should be found on who will cover the major shares of remaining management and dissemination costs.

Budgeting. The budget set out in the Consortium Plan shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties. Above all management challenges require effective and regular (re-)budgeting of all resources needed to execute the Project, taking into account that 15% of the maximum contribution will only be paid to the consortium after the end of the project. As a consequence of the (re-)budgeting process an updated Consortium Plan will be issued. The consortium may face the need to fine tune for different funding modes (eligible costs, lump sum, flat rate and scale of unit costs) within the Project. The various schemes may be imposed by the Funding Authority and/or implemented at the request of the consortium. As a consequence these will be reflected in the budget and the payment scheme for the related task. Referring to Innovation Actions that are coordinated by a for-profit organization organizationorganisation that thus only receives a funding rate of 70% it may be discussed in the consortium whether an additional agreement should be found on who will cover the major shares of ofremaining management and dissemination costs.