Common use of ELIGIBLE AND INELIGIBLE COSTS Clause in Contracts

ELIGIBLE AND INELIGIBLE COSTS. 5.1 General conditions for costs to be eligible 'Eligible costs' are costs of KIC added value activities, which meet the following criteria: a.) for actual costs: (i) they must be actually incurred by the KIC Partner; (ii) they must be incurred in the period set out in Article 3, with the exception of costs relating to the submission of the final report (see Article 16); (iii) they must be indicated in the estimated budget set out in Annex 2; (iv) they must be incurred in connection with the specific action as described in Annex 1 and necessary for its implementation; (v) they must be identifiable and verifiable, in particular recorded in the KIC Partner's accounts in accordance with the accounting standards applicable in the country where the KIC Partner is established and with the KIC Partner's usual cost accounting practices; (vi) they must comply with the applicable national law on taxes, labour and social security, and (vii) they must be reasonable, justified and must comply with the principle of sound financial management, in particular regarding economy and efficiency;

ELIGIBLE AND INELIGIBLE COSTS. ‌ 5.1 General conditions for costs to be eligible 'Eligible costs' are costs of KIC added value activities, which meet the following criteria: a.) for actual costs: (i) they must be actually incurred by the KIC Partner; (ii) they must be incurred in the period set out in Article 3, with the exception of costs relating to the submission of the final report (see Article 16); (iii) they must be indicated in the estimated budget set out in Annex 2; (iv) they must be incurred in connection with the specific action as described in Annex 1 and necessary for its implementation; (v) they must be identifiable and verifiable, in particular recorded in the KIC Partner's accounts in accordance with the accounting standards applicable in the country where the KIC Partner is established and with the KIC Partner's usual cost accounting practices; (vi) they must comply with the applicable national law on taxes, labour and social security, and (vii) they must be reasonable, justified and must comply with the principle of sound financial management, in particular regarding economy and efficiency;