Common use of – ELIGIBLE COSTS – GENERAL PRINCIPLES Clause in Contracts

– ELIGIBLE COSTS – GENERAL PRINCIPLES. ‌ II.17.1. Costs shall exclude any profit, be recorded in the accounts of the partner that incurred them, and be determined in accordance with accounting principles relating to historic costs. The accounting procedures used in the recording of costs and receipts shall respect the accounting rules of the State in which the partner is established as well as permit the direct reconciliation between the costs and receipts incurred for the implementation of the work programme and the overall statement of accounts relating to the overall business activity of the partner. II.17.2. No partner shall incur unnecessarily high or extravagant cost on a work programme. No costs may be charged in respect of marketing, sales, distribution costs for products and services, interest, return on capital employed, provisions for future losses or liabilities, and any costs related to other projects. Partners shall be authorised to transfer between themselves the budget set out in the table of the indicative breakdown of estimated eligible costs, provided that: the amounts transferred do not exceed 10% of the amount allocated to the beneficiary in the table of the indicative breakdown of estimated eligible costs. Any other properly substantiated transfer approved by partners directly concerned shall require prior written approval by the Agency. Each partner shall be authorised to transfer the budget set out in the table of the indicative breakdown of estimated eligible costs between categories of costs, in compliance with the first and second subparagraphs. However, he shall not be required to obtain the agreement of the other partners.

– ELIGIBLE COSTS – GENERAL PRINCIPLES. ‌Eligible costs are those actual costs which are necessary for a work programme, can be substantiated, and are incurred during the period specified in Article 2 of a specific agreement. Eligible costs after this period shall be limited to those relating to the reporting, review or evaluation requirements of this contract. II.17.1. II.17.1 Costs shall exclude any profit, be recorded in the accounts of the partner that incurred them, and be determined in accordance with accounting principles relating to historic costs. The accounting procedures used in the recording of costs and receipts shall respect the accounting rules of the State in which the partner is established as well as permit the direct reconciliation between the costs and receipts incurred for the implementation of the work programme and the overall statement of accounts relating to the overall business activity of the partner. II.17.2. II.17.2 No partner shall incur unnecessarily high or extravagant cost on a work programme. No costs may be charged in respect of marketing, sales, distribution costs for products and services, interest, return on capital employed, provisions for future losses or liabilities, and any costs related to other projects. Partners shall be authorised to transfer between themselves the budget set out in the table of the indicative breakdown of estimated eligible costs, provided that: the amounts transferred do not exceed 10% of the amount allocated to the beneficiary in the table of the indicative breakdown of estimated eligible costs. Any other properly substantiated transfer approved by partners directly concerned shall require prior written approval by the Agency. Each partner shall be authorised to transfer the budget set out in the table of the indicative breakdown of estimated eligible costs between categories of costs, in compliance with the first and second subparagraphs. However, he shall not be required to obtain the agreement of the other partners.