Financial Flows. The Commission will transfer funds to the NF in accordance with the Memorandum of Understanding signed between the Commission and Bulgaria in December 1998. Funds will be transferred following requests from the NAO onto a separate bank account, denominated in €, which will be opened and managed by the NF in a Bank agreed in advance with the Commission.
Financial Flows. The Commission will transfer funds to the NF in accordance with the Memorandum of Understanding signed between the Commission and the relevant countries in December 1998. Funds will be transferred following requests from the NAO, onto a separate bank account, denominated in €, which will be opened and managed by the NF in the Central bank (or “in a bank agreed in advance with the Commission”) Transfer of Funds to the National Fund: A payment of up to 20% of the funds to be managed locally will be transferred to the NF following signature of the Financing Memorandum and the Financing Agreements (FAs) between the NF and the Implementing Agencies (IAs)/Central Finance and Contracts Unit (CFCU). The provisions foreseen in articles 2 and 13 of the MoU on the NF must also be met. Furthermore, the NAO must submit to the Commission the designation of the Programme Authorising Officers (PAOs) and a description of the system put in place, highlighting the flow of information between the NF and the IA/CFCU and the manner in which the payment function will be carried out. Two Replenishments will be made of up to 30% of the funds to be managed locally and the final payment of up to 20% or the full balance of the budget whichever is the lesser amount. The first replenishment will be triggered when 5 % of the budget has been disbursed by the IAs and the CFCU. The second replenishment may be requested when 35% of the total budget in force has been disbursed. The final third replenishment will be paid when 70% of the total budget in force is disbursed. Exceptionally the NAO may request an advance payment of more than the percentages mentioned above in accordance with the procedures laid down in the aforesaid Memorandum of Understanding. Save for express prior authorisation from the Commission HQs, no replenishment may be made if the trigger points mentioned above have not been respected. Transfer of Funds to the Implementing Agencies: Implementing Agencies will be responsible for sub-programmes as follows: Bulgaria CFCU Czech Republic: CFCU Estonia CFCU Hungary: CFCU Latvia: CFCU, Ministry of Finance Lithuania: CFCU, Ministry of Finance Poland: CFCU Romania: CFCU, Ministry of Finance Slovakia CFCU Slovenia: CFCU The National Fund will transfer funds to the nominated Implementing Agency in each country, including the Central Financing and Contracting Unit (CFCU), in accordance with Financing Agreements (FAs) signed between the NFs and the IAs/CFCU where applicable. Each ind...
Financial Flows. DEPARTMENT – NATIONAL FUND (NF)
a) open bank accounts in the Czech National Bank for the transfer of funds from the Financial Mechanisms to the Czech Republic
b) request the transfer of funds from the Financial Mechanisms to the NF bank account on the basis of the relevant documentation summarising information on actual expenditures incurred during projects implementation or, if appropriate, submit requests for advance payments
c) transfer funds to the bank accounts of the Ministry of Finance administered by the CFCU on the basis of the CFCU request. The request must be supported by documents on payments executed or, if appropriate, by requests for advance payments submitted by intermediary bodies and/or final beneficiaries
d) ensure reimbursement of unused or unduly paid funds to the Financial Mechanisms
e) set and adjust the methodology governing financial flows from the EEA/Norwegian Financial Mechanisms
f) conduct accounting in the NF information system on all financial transactions realised on the accounts of the Ministry of Finance, which were opened for funds from the EEA/Norwegian Financial Mechanisms
g) keep originals of relevant documents for 10 years after completion of projects INDEPENDENT UNIT - THE CENTRAL FINANCE AND CONTRACTS UNIT (CFCU)
a) ensure conclusion of contracts with Intermediary Bodies or final beneficiaries
b) check the factual and formal correctness of requests for payment submitted by Intermediary bodies / final beneficiaries
c) ensure payments to Intermediary bodies or final beneficiaries within 10 days from approval of all the necessary documents by the NFP (CFA – UCFA)
d) conduct accounting in the NF information system, including relevant information on accounts, requests, payments and reimbursements, on all financial transactions realised on the accounts of the Ministry of Finance, which were opened for funds from the EEA/Norwegian Financial Mechanisms and which are administered by the CFCU
e) prepare and submit regular reports to the NF in the required format as a basis of the request for the transfer of funds to the NF and CFCU
f) manage the register of irregularities and its update as well as report irregularities to Central Harmonisation Unit for Financial control and NF
g) settle irregularities in its scope of function in accordance with the relevant regulations and instructions
h) prepare background documentation for the Annual Monitoring Report
i) keep originals of relevant documents 10 years after completion of proj...
Financial Flows. The disbursement of payments provided under this programme is guided by the provisions of Article II of the Rules of the Bohunice International Decommissioning Support Fund.
Financial Flows. DEPARTMENT OF NATIONAL FUND OF THE MINISTRY OF FINANCE (NF) In accordance with Governmental Decree No. 1002, of 27 October 2004, the Department of National Fund (NF) of the Ministry of Finance of the Slovak Republic will act as the Paying Authority, i.e. the central body responsible for transferring funds between the Slovak Republic and the Financing Mechanism Office. Its responsibilities include, but are not limited to, the following: • open bank accounts in the Slovak State Treasury for the transfer of funds from the EEA Financial Mechanism to the Slovak Republic; • check disbursement requests submitted by the NFP and verify and certify to the EEA Financial Mechanism the authenticity and correctness of submitted documents; • request, through the NFP, the transfer of funds from the EEA Financial Mechanism to the NF’s bank account on the basis of relevant documentation summarising information on actual expenditures incurred during project implementation or, if appropriate, submit requests for advance payments; • transfer funds from the bank accounts of the NF to project promoters or intermediaries. Such requests must be supported by documents on payments executed or, if appropriate, by requests for advance payments submitted by intermediary bodies and/or final beneficiaries; • ensure reimbursement of unused or unduly paid funds to the EEA Financial Mechanism; • set and adjust the methodology governing financial flows from the EEA Financial Mechanism; • keep accounts in the NF’s information system on all financial transactions realised on the accounts of the Ministry of Finance, which were opened for funds from the EEA Financial Mechanism; • keep originals of relevant documents for 10 years after completion of projects.
Financial Flows. (This Article does not apply to a Project Promoter acting as a state budget unit)
13.1 Project grant shall be transferred in accordance with the Act of 27 August 2009 on Public Finance (OJ of 2021, item 305) and regulation of the Minister of Finance of 17 December 2009 on payments effected as part of the programmes funded from European funds and on providing information on such payments.
13.2 Any payment, including advance, interim (if applicable) or final balance payment made under the Contract, shall be made as two separate payments transferred from the Bank Gospodarstwa Krajowego (BGK). Such method of payment is due to the fact that the EDUCATION PROGRAMME projects are funded from two different sources and because of the rules in force in the BGK Bank relating to the handling of support funds.
13.3 Project grant payments are subject to availability of funds on the BGK Bank account. The Project Promoter shall not be entitled to compensation in the case of delay or non-payment of project grant
13.4 The date of payment shall be the date on which the Programme Operator makes a payment order with the BGK Bank. The BGK Bank shall make payments in accordance with its schedule of payments of European funds for the current calendar year, as published on its website.
13.5 The Project Promoter will not make on its own any reimbursements of unused funds. If a reimbursement is necessary, it shall be made only on a written request of the Programme Operator and only at the time and to the bank account indicated by the Programme Operator.
Financial Flows. The payments, according to Art. 122 of the IPA Implementing Re- gulation, are made as pre-financings, intermediate payments and final balance. The Commissions acceptance of the description of the management and control system (art. 115 IPA Implementing Regulation) and the compliance assessment report (art. 116 IPA Implementing Regulation) are preconditions for the payment of the pre–financing (art. 128 IPA Implementing Regulation). Exchange of information concerning financial transactions, projec- xxx expenditure and payment requests29, between the European Co- mmission and the appointed Authority, occur by e-mail. As established by Art. 128 of the IPA Implementing Regulation, the European Commission provides a single pre-financing amount. The pre-financing amounts to 25% of the contribution of the community fund to the Programme for the first three years. The appointed Authority will repay to the European Commission the total amount of the pre-financing if any applications for payment are forwarded within a twenty four months term from the date on which the European Commission paid the pre-financing. Intermediate payments may be made by the European Commission, following receipt of application for payment, an expenditure state- ment in accordance with the Art. 124 of the IPA Implementing Re- gulation and the last annual report. The Certifying Authority organises applications for intermediate payments, affixes a digital signature and sends them to the Euro- pean Commission. The Certifying Authority makes payment directly to the Lead Par- tner. The Lead Partner is responsible for disbursement to each single partner of the project. The last stage of the financial flow concerns balance allocation. In this stage, the same principles and the same means envisaged for the intermediate payment must be applied in accordance with the con- ditions established by Art. 133 of the IPA Implementing Regulation. Matured interest belongs to the beneficiary countries and must be used only for the Programme. The amount of interest is declared to the Commission when the Programme is definitively closed in accordance with Art. 36 of the IPA Implementing Regulation.
Financial Flows. The licensee uses bank or postal current accounts in their name, dedicated to the financial management of gaming collection by means of apparatuses for enjoyment and entertainment. Such accounts shall be opened at a foremost institute having offices throughout Italy and able to ensure service at the best market conditions. AAMS shall be given the identifying details of such current accounts. The net amount as per the period statements and analogous summarizing document pursuant to chapter 1 hereabove shall converge into each bank or postal current account. The licensee pays AAMS the interest receivables accrued on the aforesaid accounts. From the current accounts the licensee withdraws: · The amounts to be paid pursuant to chapter 3 hereabove; · The consideration due to them; · Following validation by the AAMS commission, the amounts for paying sums exceeding 5,000.00 Euros (five thousand point zero zero) related to claims issued by the VLT apparatuses, of which payment is requested; [seal] · The amounts deriving from winnings by acceptance of any complaints submitted; · The amounts to be devolved to AAMS, according to the procedures indicated by the latter, for winnings not requested within the term pursuant to chapter 4 hereabove. [initialed] The licensee is bound to supplying a copy of the statements of the financial movements brought about on the aforesaid current accounts on a quarterly basis.
Financial Flows. The financial flow towards the beneficiary by the IB takes place according to the following procedure:
1. in a single payment;
2. the payment of the grant is made at the end of the training path and within maximum 60 days from receipt of the expenditure report;
3. the cost of the operation approved during the selection phase is the eligible expenditure ceiling;
4. The IB pays the grant by bank transfer on the bank account indicated by the beneficiary on the Technical report upon submission of the payment request. The IB, following the positive outcome of the internal accounting check of the administration and after having ordered the payment of the awarded sum, informs the beneficiaries, with a specific note, the details of the payment document and the amount of the sum granted. The payment is made by bank transfer to the following bank: <NAME OF THE BANK> <ADDRESS> <BANK ACCOUNT NUMBER> <IBAN> <SWIFT>
Financial Flows. The Commission will transfer funds to the NF in accordance with the Memorandum of Understanding signed between the Commission and resp. Poland and the Slovak Republic in December 1998. Funds will be transferred following requests from the NAO onto a separate bank account, denominated in €, which will be opened and managed by the NF in the Central Bank.
