First pre-financing payment. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the NA until the payment of the balance. The NA must pay to the beneficiary within 30 days following the entry into force of the Agreement a first pre-financing payment of EUR […] corresponding to 80% of the maximum grant amount specified in Article I.3.1.
First pre-financing payment. The aim of the pre-financing is to provide the beneficiaries with a float. The pre-financing remains the property of the NA until the payment of the balance. [Option if the NA requires a pre-financing guarantee: The first pre-financing payment is done when the NA receives financial guarantee that fulfils the following conditions:
(a) it is provided by a bank or an approved financial institution or, if requested by the coordinator and accepted by the NA, by a third party;
(b) the guarantor stands as first-call guarantor and does not require the NA to first have recourse against the principal debtor (i.e. the beneficiary concerned); and
(c) it explicitly remains in force until the pre-financing is cleared against payment of the balance by the NA. If the payment of the balance takes the form of a recovery, the financial guarantee must remain in force until three months after the debit note is notified to the coordinator. The NA must release the guarantee within the following month.] [NA to choose between the following options.
Option 1: One pre-financing payment in one instalment, with or without a progress report.
Option 2: One pre-financing payment in two instalments, with or without a progress report.
Option 3: Two pre-financing payments.
First pre-financing payment. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the NA until the payment of the balance.
First pre-financing payment. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the NA until the payment of the balance. [Option if the NA requires a pre-financing guarantee: The first pre-financing payment is done when the NA receives financial guarantee that fulfils the following conditions: it is provided by a bank or an approved financial institution or, if requested by the beneficiary and accepted by the NA, by a third party; the guarantor stands as first-call guarantor and does not require the NA to first have recourse against the principal debtor (i.e. the beneficiary); and it explicitly remains in force until the pre-financing is cleared against payment of the balance by the NA. If the payment of the balance takes the form of a recovery, the financial guarantee must remain in force until three months after the debit note is notified to the beneficiary. The NA must release the guarantee within the following month.] [NA to choose between the following options
First pre-financing payment. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the NA until the payment of the balance.
2 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%. In the case of Key Action 1 Higher Education between Programme Countries, the balance payment will be normally replaced by a further pre- financing based on an interim report. However, in case of lack of sufficient payment appropriations, the NA may:
a) reduce the first pre-financing to a percentage between 60 and 80% and apply a balance payment of 40-20% of the maximum grant amount, or
b) split the first pre-financing into two payments without interim report , whereby the total of both payments amounts to 80% of the maximum grant amount and a balance payment of 20% of the maximum grant amount.
First pre-financing payment. The coordinator must pay to the partner within 30 days following the entry into force of the Agreement a first pre-financing payment of EUR 12 826 corresponding to 40% of the maximum grant amount specified in Article IV.1.
First pre-financing payment. 2 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%.
First pre-financing payment. 2 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%; in the case of Key Action 1 in Higher Education, the balance payment will be normally replaced by a further pre- financing based on an interim report. However, in case of lack of sufficient payment appropriations, the NA may:
a) reduce the first pre-financing to a percentage between 60 and 80% and apply a balance payment of 40-20% of the maximum grant amount, or
b) split the first pre-financing into two payments without interim report, whereby the total of both payments amounts to 80% of the maximum grant amount, and a balance payment of 20% of the maximum grant amount.
First pre-financing payment. The aim of the pre-financing is to provide the beneficiaries with a float. The pre-financing remains the property of the NA until the payment of the balance. [Option if the NA requires a pre-financing guarantee: The first pre-financing payment is done when the NA receives financial guarantee that fulfils the following conditions:
(a) it is provided by a bank or an approved financial institution or, if requested by the coordinator and accepted by the NA, by a third party;
(b) the guarantor stands as first-call guarantor and does not require the NA to first have recourse against the principal debtor (i.e. the beneficiary concerned); and
(c) it explicitly remains in force until the pre-financing is cleared against payment of the balance by the NA. If the payment of the balance takes the form of a recovery, the 2 [Information for the NA - to delete] 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre- financing payment of 80% and a balance payment of 20%.
First pre-financing payment. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the NA until the payment of the balance. If the NA requires a pre-financing guarantee: The first pre-financing payment is done when the NA receives financial guarantee that fulfils the following conditions:
(a) it is provided by a bank or an approved financial institution or, if requested by the beneficiary and accepted by the NA, by a third party;
(b) the guarantor stands as first-call guarantor and does not require the NA to first have recourse against the principal debtor (i.e. the beneficiary); and
(c) it explicitly remains in force until the pre-financing is cleared against payment of the balance by the NA. If the payment of the balance takes the form of a recovery, the financial guarantee must remain in force until three months after the debit note is notified to the beneficiary. The NA must release the guarantee within the following month. The NA must pay to the beneficiary within 30 days following the entry into force of the Agreement [or, if applicable: following the receipt of a financial guarantee of EUR [… ] a first pre-financing payment of EUR [… ] corresponding to 80% of the maximum grant amount specified in Article I.3.1.
