Common use of – GENERAL PROVISIONS CONCERNING PAYMENTS Clause in Contracts

– GENERAL PROVISIONS CONCERNING PAYMENTS. 2.5.1 Payments shall be deemed to have been made on the date on which the Contracting Authority’s account is debited. 2.5.2 The payment periods referred to in Article 1.4 may be suspended by the Contracting Authority at any time if it informs the Contractor that his payment request is not admissible, either because the amount is not due or because the necessary supporting documents have not been properly produced. In case of doubt about the eligibility of the expenditure indicated in the payment request, the Contracting Authority may suspend the time limit for payment for the purpose of further verification, including an on-the-spot check, in order to ascertain, prior to payment, that the expenditure is eligible. The Contracting Authority shall notify the Contractor accordingly. Suspension shall take effect from the date of dispatch of the notification. The remainder of the period referred to in Article 0 shall begin to run again once the suspension has been lifted. 2.5.3 In the event of late payment the Contractor shall be entitled to interest, provided the calculated interest exceeds EUR 200. In case interest does not exceed EUR 200, the Contractor may claim interest within two months of receiving the payment. Interest shall be calculated at the rate applied by the European Central Bank to its most recent main refinancing operations (“the reference rate”) plus seven percentage points (“the margin”). The reference rate in force on the first day of the month in which the payment is due shall apply. Such interest rate is published in the C series of the Official Journal of the European Union. Interest shall be payable for the period elapsing from the calendar day following expiry of the time limit for payment up to the day of payment. Suspension of payment by the Contracting Authority may not be deemed to constitute late payment.

– GENERAL PROVISIONS CONCERNING PAYMENTS. 2.5.1 II.5.1. Payments shall be deemed to have been made on the date on which the Contracting Authority’s Agency's account is debited. 2.5.2 II.5.2. The payment periods referred to in Article 1.4 I.4 may be suspended by the Contracting Authority Agency at any time if it informs the Contractor that his payment request is not admissible, either because the amount is not due or because the necessary supporting documents have not been properly produced. In case of doubt about on the eligibility of the expenditure indicated in the payment request, the Contracting Authority Agency may suspend the time limit for payment for the purpose of further verification, including an on-the-spot check, in order to ascertain, prior to payment, that the expenditure is eligible. The Contracting Authority Agency shall notify the Contractor accordinglyaccordingly and set out the reasons for the suspension by registered letter with acknowledgment of receipt or equivalent. Suspension shall take effect from the date of dispatch of the notificationletter. The remainder of the period referred to in Article 0 I.4 shall begin to run again once the suspension has been lifted. 2.5.3 II.5.3. In the event of late payment the Contractor shall be entitled to interest, provided the calculated interest exceeds EUR 200. In case interest does not exceed EUR 200, the Contractor may claim interest within two months of receiving the payment. Interest shall be calculated at the rate applied by the European Central Bank to its most recent main refinancing operations (“the reference rate”) plus seven percentage points (“the margin”). The reference rate in force on the first day of the month in which the payment is due shall apply. Such interest rate is published in the C series of the Official Journal of the European Union. Interest shall be payable for the period elapsing from the calendar day following expiry of the time limit for payment up to the day of payment. Suspension of payment by the Contracting Authority Agency may not be deemed to constitute late payment.

– GENERAL PROVISIONS CONCERNING PAYMENTS. 2.5.1 Payments shall be deemed to have been made on the date on which the Contracting Authority’s account is debited. 2.5.2 The payment periods referred to in Article 1.4 may be suspended by the Contracting Authority at any time if it informs the Contractor that his payment request is not admissible, either because the amount is not due or because the necessary supporting documents have not been properly produced. In case of doubt about the eligibility of the expenditure indicated in the payment request, the Contracting Authority may suspend the time limit for payment for the purpose of further verification, including an on-the-spot check, in order to ascertain, prior to payment, that the expenditure is eligible. The Contracting Authority shall notify the Contractor accordingly. Suspension shall take effect from the date of dispatch of the notification. The remainder of the period referred to in Article 0 1.4 shall begin to run again once the suspension has been lifted. 2.5.3 In the event of late payment the Contractor shall be entitled to interest, provided the calculated interest exceeds EUR 200. In case interest does not exceed EUR 200, the Contractor may claim interest within two months of receiving the payment. Interest shall be calculated at the rate applied by the European Central Bank to its most recent main refinancing operations (“the reference rate”) plus seven percentage points (“the margin”). The reference rate in force on the first day of the month in which the payment is due shall apply. Such interest rate is published in the C series of the Official Journal of the European Union. Interest shall be payable for the period elapsing from the calendar day following expiry of the time limit for payment up to the day of payment. Suspension of payment by the Contracting Authority may not be deemed to constitute late payment.

– GENERAL PROVISIONS CONCERNING PAYMENTS. 2.5.1 II.5.1. Payments shall be deemed to have been made on the date on which the Contracting Authority’s Cedefop's account is debited. 2.5.2 II.5.2. The payment periods referred to in Article 1.4 I.4 may be suspended by the Contracting Authority Xxxxxxx at any time if it informs the Contractor that his payment request is not admissible, either because the amount is not due or because the necessary supporting documents have not been properly produced. In case of doubt about on the eligibility of the expenditure indicated in the payment request, the Contracting Authority Cedefop may suspend the time limit for payment for the purpose of further verification, including an on-the-spot check, in order to ascertain, prior to payment, that the expenditure is eligible. The Contracting Authority Cedefop shall notify the Contractor accordinglyaccordingly by registered letter with acknowledgment of receipt or equivalent. Suspension shall take effect from the date of dispatch of the notificationletter. The remainder of the period referred to in Article 0 I.4 shall begin to run again once the suspension has been lifted. 2.5.3 II.5.3. In the event of late payment the Contractor shall be entitled to interest, provided the calculated interest exceeds EUR 200. In case interest does not exceed EUR 200, the Contractor may claim interest within two months of receiving the payment. Interest shall be calculated at the rate applied by the European Central Bank to its most recent main refinancing operations (“the reference rate”) plus seven percentage points (“the margin”). The reference rate in force on the first day of the month in which the payment is due shall apply. Such interest rate is published in the C series of the Official Journal of the European Union. Interest shall be payable for the period elapsing from the calendar day following expiry of the time limit for payment up to the day of payment. Suspension of payment by the Contracting Authority Cedefop may not be deemed to constitute late payment.