– Financial management and payment arrangements Sample Clauses

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner shall take the form of [specify the applicable forms of payments: advance payments, reimbursement of incurred expenditure (interim payments) and payment of the final balance]. 2. [If an advance payment is foreseen, its maximum amount and the off-set mechanism should be specified here]. 3. [If applicable] The advance payment to the Project Partner shall be made no later than [number of working days] of the crediting of the advance payment from the Programme to the Project Promoter’s bank account. 4. Interim payments shall be paid based on [specify how the Project Partner is to claim expenditure from the Project Promoter and if a template shall be used to that effect. If so, the template should be annexed to the Partnership Agreement. If no templates are foreseen, then the provision should specify, with as much detail as possible, the content of the payment claims]. Payment claims shall be submitted to the Project Promoter [specify the monthly frequency or specific deadlines], along with a confirmation from [responsible person within the Project Partner, e.

– Financial management and payment arrangements. 1. All expenses related to the project implementation and Project Partner's activities will be paid directly by the Project Promoter according to the previous agreement and based on supplied invoices.

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner shall take the form of bank transfer in instalments and based upon invoices sent by the Partner - reimbursement of incurred expenses (advance payments) and payment of the final balance. 2. Artist fee for monument will be paid in part at the beginning of the work, and the final payment at the completion of the instalment in the Park. 1/3 to be paid at the beginning of the work 1/3 after the symposium in 2022, and 1/3 after the instalment and opening in 2023. 3. Material cost and all travel cost will be paid in advanced and no later than having received invoices and receipts. 4. The advance payment to the Project Partner shall be made no later than 20 days of the crediting of the advance payment from the Programme to the Project Promoter’s bank account. 5. Interim payments shall be paid based on invoices received by the Project Promoter from the Project Partner. Invoices should contain explicit information about the content of the payment and additional documentation should be provided as needed. The settlement of the advance payment shall be submitted to the project beneficiary in the form of an invoice and other supporting documentation and in relation to the expenditure incurred and with reference to the expenditure agreed in the budget. The invoices will be issued and sent by the Project Manager Bergljot Jonsdottir. who will guarantee for the expenditures being in accordance with the principles and rules set forth in this Agreement. 6. Payment of the final balance shall be made no later than June 2023. 7. All amounts shall be denominated in Euro. The reporting currency of incurred expenditure is set by the Programme Operator. The conversion exchange rate for establishing incurred expenditure in euro is set by the Programme Operator. Expenditure incurred by the Project Partner 2, in any other currency, shall be converted into the reporting currency according to the valid exchange rate as recorded by the European Central Bank, valid on the day/month in which the expenditure was incurred. The Project Promoter 2 bears the exchange rate risk. 8. Payments to the Project Partner shall be made to the Project Partner’s bank account denominated in Euro identified as follows: Bank: DNB BIC: XXXXXXXXXXX IBAN: XX0000000000000 Address: Dronning Xxxxxxxxx xxxx 00 0000 Xxxx, Xxxxxx Post: Xxxxxxxx 0000 Xxxxxxx, 0000 Xxxx A/C for international payments NO 49 7001 XXXX XXX 9. Payments shall be deemed to have been...

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner shall take the form of advance payment shortly after the project start and the payment of the final balance at the end of the project. 2. 80% planned project expenses of the Project Partner will be transferred in two advance payments (2x40%) to Partner's bank account in Czech crowns (CZK). The remaining 20% of the planned expenses of the Project Partner will be paid at the end of the project period. 3. Any advance payment to the Project Partner shall be made no later than 25 working days of the crediting of the advance payment from the Programme Operator to the Project Promoter’s bank account. 4. Interim payments shall be paid based on request that will be send via surface mail or scanned original document send via e-mail from the Project Partner to the Project Promoter. Payment claims shall be submitted to the Project Promoter no later than 15 days after receiving a message from that the Project Promoter obtained the payment from the DZS. 5. There are no applicable interim payments in this project. 6. Payment of the final balance shall be made no later than 30 days after the end of the project period, along with a confirmation from the Project Partner (responsible person Dr. Senbo Xiao) that the claimed expenditures are in accordance with the principles and rules set forth in this Agreement. 7. All amounts shall be denominated in the Czech crowns (CZK). The currency exchange rules for any expenditure in a different currency and its reimbursement will be determined according the exchange rate corresponding to the day of such transaction. 8. The Project Partner’s bank account denominated in NOK is identified as follows: Name of bank DNB Full address of bank (branch) DNB, Xxxxxxxx 0000 Xxxxxxx, 0000 Xxxx Name of account holder Norges Tekn.Naturvitensk.Universitet NTNU Address of account holder Xxxxxxxxxxxxxx 0, 0000 Xxxxxxxxx, Xxxxxx Account number / IBAN XX00 0000 0000 000 BIC / Swift codes XXXXXXXX Variable symbol (if applicable) Ksted 644505 9. Payments shall be deemed to have been made on the date on which the Project Promoter’s account is debited.

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner shall take the form of two advance payments and one payment of the final balance. 2. The first advance payment shall be made to Project Partner amounting to CZK 375 648 corresponding to 40 % of the Project Partner’s budget as set up in the Annex I. The payment will be made after crediting the first advance payment from the Programme Operator to the Project Promoter’s bank account without any unnecessary delay. The payment must be credited to the Project Partner’s bank account within fiscal year 2021. 3. The second advance payment shall be made to Project Partner after the approval of the interim report by the Programme Operator amounting to CZK 375 648, corresponding to 40 % of the Project Partner’s budget as set up in the Annex I., provided that at least 70 % of the first advance payment (that is, CZK 262 954) has been approved as eligible expenditures in the interim report. The payment will be made after crediting the second advance payment from the Programme Operator to the Project Promoter’s bank account without any unnecessary delay. The payment must be credited to the Project Partner’s bank account within fiscal year 2022. 4. Payment of the final balance shall be made to Project Partner after the approval of the final project report by the Programme Operator. The amount of the payment may be up to CZK 187 824, corresponding to 20 % of the Project Partner’s budget as set up in the Annex I., based on the total amount of eligible expenditures of the Project Partner in the approved final report. The payment will be made after crediting of the final payment from the Programme Operator to the Projects Promoter’s bank account without any unnecessary delay. The payment must be credited to the Project Partner’s bank account within fiscal year 2023. 5. All amounts shall be denominated in CZK. The currency exchange rules for such expenditure and its reimbursement follow the combination of the conversion rate used in the Call for proposal (for exchanges between CZK and EUR, the exchange rate valid for the 3rd Calls for proposals is 26 CZK/EUR) and the exchange rate of the Czech National Bank (ČNB) at the day of expenditure (for exchanges between other currency pairs). 6. The Project Partner’s bank account denominated in NOK is identified as follows: Variable symbol (if applicable) BIC / Swift codes Account number / IBAN Address of account holder Name of account holder Full address of bank (branch) Name...

– Financial management and payment arrangements. 1. Payment of the PDI will be based on reimbursement of incurred eligible expenditure (interim payment) and payment of the final balance under the partnership agreement with State Environmental Fund of the Czech Republic. The PDI consists of 2 monitoring periods: Monitoring period: December 1, 2023, to May 31, 2024 (6 months) Monitoring period: June 1, 2024, to October 31, 2024 (5 months) 2. Interim and final payments will be disbursed to the KS based on the list of declared expenditures. A sample list is provided in Annex 2. Payment claims shall be submitted to the SMS CR monthly, along with a confirmation from responsible person within the KS, e.g. Project Manager that the claimed expenditures are in accordance with the principles and rules set forth in this Agreement. 3. The list of declared expenses for the last month of the first monitoring period must be submitted to the SMS CR no later than 7 calendar days after the end of the period. In case of a later submission, the SMS CR cannot guarantee proper reimbursement. 4. The list of declared expenses for the last month of the second monitoring period must be submitted to the SMS CR until October 25, 2024. In case of a later submission, the SMS CR cannot guarantee proper reimbursement. 5. The interim and final payment will be disbursed to the KS after approval and reimbursement of expenses by the State Environmental Fund CR. Expenses for the KS will be reimbursed to the KS no later than 14 days from the approval and payment by the State Environmental Fund CR. 6. All amounts shall be denominated in Czech crowns. 7. Payments to the KS shall be made to the KS’s bank account denominated in Norwegian krone, identified as follows: XxX, Xxxxxxxx Xxxxxxxx xxxx 00, X.0. Boks 1600, Sentrum, 0021 Oslo SWIFT/BIC: XXXXXXXX, IBAN: XX0000000000000 8. Payments shall be deemed to have been made on the date on which the SMS CR’s account is debited. 9. The eligibility of expenditure is limited to the start and end dates of Eligibility - 1. 12. 2023 - 31. 10. 2024

– Financial management and payment arrangements. 1. Payment of the project grant share to each Project Partner shall take the advance payments (interim payments) and payment of the final balance. 2. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment Final payment 12 - 24 months 25% 45% 20% - 10% 3. The advance payment to each Project Partner shall be made no later than 15 days of the crediting of the advance payment from the Programme Operator to the Project Promoter’s bank account following the signature of the Project Contract. 4. Interim payments shall be paid based on invoices and supporting financial documents. Each partner may opt to submit proof of expenditure by way of an independent audit report in line with Article 8.12 of the Regulation. Payment claims shall be submitted to the Project Promoter until the deadlines stated in Article 9 of the Regulation, along with a confirmation from responsible person within each Project Partner, e.g. Project Manager that the claimed expenditures are in accordance with the principles and rules set forth in this Agreement. Expenditures incurred after 30 April 2024 are not eligible. 5. Interim payments to each Project Partner shall be made by transferring the amounts within 15 working days of the crediting of the payments from the Programme Operator to the Project Promoter’s bank account following the approval of Project interim reports. 6. Payment of the final balance shall be made after the approval of Project final report. Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. 7. All amounts shall be denominated in euro. The crediting of the final payment to each Project Partner's account depends on the result of the final project report. In case each Project Partner is entitled to credit the payment of the final balance to the account, this will be done no later than 15 working days from the date of crediting the payment of the final balance resulting from the final payment to the account of the Project Promoter. 8. Payments to each Project Partner shall be made to the Project Partner’s bank account denominated in euro, identified as follows: For the Project Partner: International Development Norway AS Name of bank: DNB, address of bank: Xxxxxxxxx 00, 0000 Xxxxxxxxx Owner of account: International Development Norway Account number: 1250.61.36...

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner 1 shall take the form of reimbursement of incurred expenditure (interim payments) and payment of the final balance. 4. Interim payments shall be paid based on the base of claim expenditure form the Project Promoter following the Annex 4 “Reporting and payments”. Payment claims shall be submitted to the Project Promoter with frequency and deadlines, along with a confirmation from responsible person that the claimed expenditures are in accordance with the principles and rules set forth in this Agreement 5. Interim payments to the Project Partner 1 shall, subject to Article be paid in line with the Annex 4 “Reporting and payments”. 6. Payment of the final balance shall be made in line with the Annex 4 “Reporting and payments”. 7. All amounts shall be denominated in CZK. 8. Payments to the Project Partner 1 shall be made to the Project Partner’s 1 bank account denominated identified as in the Annex 4 “Reporting and payments”. 9. Payments shall be deemed to have been made on the date on which the Project Promoter’s account is debited.

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner shall take the advance payment and payment of the final balance. 2. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment Final payment 6 -12 months 80 % - - - 20% 3. The advance payment to the Project Partner shall be made no later than 15 days of the crediting of the advance payment from the Programme Operator to the Project Promoter’s bank account following the signature of the Project Contract. 4. Payment of the final balance shall be made after the approval of Project final report. Retention may be applied at the end of the implementation or pro rata from the advance payment. 5. All amounts shall be denominated in euro. The conversion exchange rate for establishing incurred expenditure in the local currency of the Project Partner is set by the Programme Operator. This will normally follow a methodology whereby expenditure incurred by the partner, in any other currency, shall by converted into the reporting currency according to the valid exchange rate as recorded by the European Central Bank, valid on the day expenditure was incurred. The exchange rate risk bares the Project Partner. The crediting of the final payment to the Project Partner's account depends on the result of the final project report. In case the Project Partner is entitled to credit the payment of the final balance to the account, this will be done no later than 15 working days from the date of crediting the payment of the final balance resulting from the final payment to the account of the Project Promoter. 6. Payments to the Project Partner shall be made to the Project Partner’s bank account denominated in euro, identified as follows: For the Project Partner: International Development Norway AS Name of bank: DNB, address of bank: Xxxxxxxxx 00, 0000 Xxxxxxxxx Owner of account: International Development Norway Account number: 1250.61.3669 IBAN: XX0000000000000 BIC/Swift: XXXXXXXXXXX 7. Payments shall be deemed to have been made on the date on which the Project Promoter’s account is debited. 8. The Project Partner undertakes to use the Project Grant only for the Eligible Expenditures in the amount and to the extent according to this Agreement and Annex 1 and in compliance with the EEA and Norwegian Financial Mechanism Legal Framework, and Implementation Rules.

– Financial management and payment arrangements. 1. Payment of the project grant share to the Project Partner shall take the form of 2 advance payments and payment of the final balance. 1st advance payment is 80 % for travel, 2nd advance payment is 80 % for organisational support and individual support for participants (subsistence) - specified in Annex I – Project partner’s budget. 2. The maximum amounts of advance payments is 80 % of the Project partner’s budget (specified in Annex I - Project partner’s budget). The maximum amount of the final balance is 20 % of the Project partner’s budget (specified in Annex I - Project partner’s budget). 3. 1st advance payment (for travel) to the Project Partner shall be made no later than 30 working days of the crediting of the advance payment from the Programme Operator to the Project Promoter’s bank account. 4. 2nd advance payment (for organisational support and individual support for participants - subsistence) to the Project Partner shall be made no later than 60 working days before planned mobility (mobility in the Czech Republic) to the Project Promoter’s bank account. 5. Billing of payment shall be submitted to the Project Promoter no later than 30 working days after finishing of planned mobility (mobility in the Czech Republic), along with a confirmation from Xx. Xxxxx Xxxxxxx Gylfadóttir that the claimed expenditures are in accordance with the principles and rules set forth in this Agreement. 6. Payment of the final balance to the Project Partner will be made no later than 30 working days of the crediting of the final payment from the Programme Operator to the Project Promoter’s bank account. 7. All amounts shall be denominated in EUR. Exchange rate losses and differences will be split in half between Project Promoter and Project Partner. Account for these fees will be carry out in the final calculation (final balance). 8. The Project Partner’s bank account denominated in EUR is identified as follows: Name of bank xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Full address of bank (branch) xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Name of account holder xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Address of account holder xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Account number / IBAN xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BIC / Swift codes xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Variable symbol (if applicable) xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 9. Payments shall be deemed to have been made on the date on which the Project Promoter’s account is debited.