Common use of Payment flows Clause in Contracts

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 Less than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 25% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 duration1 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 payment2 Less than 24 months 20% 40% 3530% - - 510% 24-36 months 15% 30% 25% 2520% - 510% More than 36 months 10% 20% 20% 25% 2015% 510% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 1 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 2 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 one month. The approval of project interim and final reports shall take place within 3 three months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 : 1] Advance payment 1st Interim I nterim payment 2nd Interim Interi m payment 3rd Interim Inte rim payment 4th Interim Inte rim payment Final payment4 payment[2] Less than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 25% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems. [1] The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. [2] Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 duration1 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 payment2 Less than 24 months 20% 40% 3530% - - 510% 24-36 months 15% 30% 25% 2520% - 510% More than 36 months 10% 20% 20% 25% 2015% 510% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within . 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 2 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 one month. The approval of project interim and final reports shall take place within 3 three months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 duration4 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 payment5 Less than 24 months 20% 40% 3530% - - 510% 24-36 months 15% 30% 25% 2520% - 510% 4 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 5 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. More than 36 months 10% 20% 20% 25% 2015% 510% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 one month. The approval of project interim and final reports shall take place within 3 three months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 Advance duration6 1st 2nd 3rd Final payment7 6 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 7 Retention may be applied at the end of the implementation or pro rata from each advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 and interim payments. Less than 12 months 35% 55% - - 10% 12-24 months 25% 45% 20% - 10% More than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 2515% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment shall be calculated as a percentage of the total grant awarded to projects the project and its level shall be set out in the project contract. The maximum level of advance payment and the total amount of interim payments shall be linked to the project budget and duration as follows: Outcome Project implementation duration3 Implementation Duration15 Advance payment 1st Interim payment Payment 2nd Interim payment Payment 3rd Interim payment Payment 4th Interim payment Payment Final payment4 Less than Payment16 Outcome I < 24 months 20% 40% 3530% - - 510% 24-24 – 36 months 15% 30% 25% 2520% - 510% More than > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% 5- - - 10% 15 The project contract may set suspensive conditions related to advance, interim and /or final payments. In justified cases, at the Programme Operator’s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity proceed with these payments. 16 Retention may be applied at the end of the implementation or pro rata from each advance and interim payments. The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 one month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 one month. The approval of project interim and final reports shall take place within 3 three months from the submission of the required information. The periodicity of reporting periods periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment is 50% of the project grant in the case of private entities. There is no advance for public entities associated with state budget. The maximum level of advance payment shall be linked to the type of project budget promoter and duration as follows: Project Promoter Project implementation duration3 duration Maximum Advance payment 1st Interim payments Final payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 Less than 24 months 20Public entity No advance payment. 90% - Based on reimbursement of expenditure 10% Public entity not associated with state budget or private entity* ≤ 12 Months Up to 50% 40% 3510% - - 5% 2412-36 18 months 15% Up to 30% 2560% 25% - 5% More than 36 months 10% >18 Months Up to 20% 2070% 25% 20% 510% The first advance payment instalment shall be paid following the signature of the project contract. An advance payment of a percentage of the total grant amount shall be paid within 1 month from the submission of a request after signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may payment will be applied at the end paid after approval of the implementation or pro rata from each advance payment and interim paymentsfinal report. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 2 months from the submission of the required information. The periodicity of reporting periods periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 Advance duration4 1st 2nd 3rd Final payment5 4 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 5 Retention may be applied at the end of the implementation or pro rata from each advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 and interim payments. Less than 12 months 35% 55% - - 10% 12-24 months 25% 45% 20% - 10% More than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 2515% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The provisions on payment flows described below shall applty to all projects implemented within the programme, including the pre-defined project. The Programme Operator shall ensure that timely transfer of an advance payment, interim payment(s) and a payment of the final balance to the Project Promoter. Advance and interim payments to projects are made in a timely manner. Interim and final payments up to the projects shall be based on approved project reports. Payments 95% of the total project grant shall take the form of advance payments, interim payments and a final paymentamount. The level of advance Advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to based on the project budget and duration as follows: Project implementation duration3 Advance duration.  For projects of 8 months or less, the advance payment 1st Interim may be up to 95% of the total project grant amount,  for projects of over 8 months, the advance payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 Less than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 25% - 5% More than 36 months 10% 20% 20% 25% 20% 5% should cover at least the planned expenditure in a first reporting period. The advance payment shall will be paid following transferred to the Project Promoter within 30 working days after the signature of the project contract. Subsequent payments shall The full amount of advance payment needs to be paid after secured by a guarantee. Interim payment(s) The interim payment(s), where applicable, in the form of pre-financing instalment(s) will be transferred to the project within 30 working days following the approval of the project interim reportsreport(s). The final payment will These may be paid after approval when at least 70% of the final reportprevious instalments (advance and interim) has been incurred. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance Final payment and interim payments. Upon approval of the final project report report, a final balance paymentbalance, if applicable, shall be made within 1 month30 working days. Where the total amount of earlier payment(s) is higher than the final amount of the grant, the payment of the balance will take the form of recovery. On-the-spot checks should be completed prior to final payment to projects implemented under Outcome 1. The approval level of advance and interim payments as well as their schedule for each project interim and final reports shall take place within 3 months from be annexed to the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systemsproject contract.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment shall be calculated as a percentage of the total grant awarded to projects the project and its level shall be set out in the project contract. The maximum level of advance payment and the total amount of interim payments shall be linked to the project budget and duration as follows: Outcome Project implementation duration3 Implementation Duration[1] Advance payment 1st Interim payment Payment 2nd Interim payment Payment 3rd Interim payment Payment 4th Interim payment Payment Final payment4 Less than Payment[2] Outcome I < 24 months 20% 40% 3530% - - 510% 24-24 – 36 months 15% 30% 25% 2520% - 510% More than > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% 5- - - 10% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 one month after the approval of project interim reports. 3 Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within three months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems. [1] The project contract may set suspensive conditions related to advance, interim and/or and /or final payments. In justified cases, at the Programme Operator´s Operator’s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 [2] Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment shall be calculated as a percentage of the total grant awarded to projects the project and its level shall be set out in the project contract. The maximum level of advance payment and the total amount of interim payments shall be linked to the project budget and duration as follows: Outcome Project implementation duration3 Implementa tion Duration1 Advance payment 1st Interim payment Payment 2nd Interim payment Payment 3rd Interim payment Payment 4th Interim payment Payment Final payment4 Less than Payment2 Outcome I < 24 months 20% 40% 3530% - - 510% 24-24 – 36 months 15% 30% 25% 2520% - 510% More than > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% 5- - - 10% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 one month after the approval of project interim reports. 3 Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within three months from the submission of the required information. 1 The project contract may set suspensive conditions related to advance, interim and/or and /or final payments. In justified cases, at the Programme Operator´s Operator’s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 2 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. 1st Interim Payment 2nd Interim Payment 3rd Interim 4th Interim Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment shall be calculated as a percentage of the total grant awarded to projects the project and its level shall be set out in the project contract. The maximum level of advance payment and the total amount of interim payments shall be linked to the project budget and duration as follows: Project implementation duration3 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 Less than Outcome I < 24 months 20% 40% 3530% - - 510% 24-24 – 36 months 15% 30% 25% 2520% - 510% More than > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% 5- - - 10% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 one month after the approval of project interim reports. 3 Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within three months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems. [1] The project contract may set suspensive conditions related to advance, interim and/or and /or final payments. In justified cases, at the Programme Operator´s Operator’s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 [2] Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 Advance payment implementatio n duration[1] Advancepayme nt 1st Interim payment Int erimpayment 2nd Interim payment Interimp ayment 3rd Interim payment Interi mpayment 4th Interim payment Interi mpayment Final payment4 paymen t [2] Less than 24 months 20% 40% 3530% - - 510% 24-36 months 15% 30% 25% 2520% - 510% More than 36 months 10% 20% 20% 25% 2015% 510% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within three months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems. [1] The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 [2] Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment shall be calculated as a percentage of the total grant awarded to projects the project and its level shall be set out in the project contract. The maximum level of advance payment and the total amount of interim payments shall be linked to the project budget and duration as follows: Outcome Project implementation duration3 Implementa tion Duration1 Advance payment 1st Interim payment Payment 2nd Interim payment Payment 3rd Interim payment Payment 4th Interim payment Payment Final payment4 Less than Payment2 Outcome I < 24 months 20% 40% 3530% - - 510% 24-24 – 36 months 15% 30% 25% 2520% - 510% More than > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% 5- - - 10% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 one month after the approval of project interim reports. 3 Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. 1 The project contract may set suspensive conditions related to advance, interim and/or and /or final payments. In justified cases, at the Programme Operator´s Operator’s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 2 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 three months from the submission of the required information. The periodicity of reporting periods periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment shall be calculated as a percentage of the total grant awarded to projects the project and its level shall be set out in the project contract. The maximum level of advance payment and the total amount of interim payments shall be linked to the project budget and duration as follows: Outcome Project implementation duration3 Implementation Duration13 Advance payment 1st Interim payment Payment 2nd Interim payment Payment 3rd Interim payment Payment 4th Interim payment Payment Final payment4 Less than Payment14 Outcome I < 24 months 20% 40% 3530% - - 510% 24-24 – 36 months 15% 30% 25% 2520% - 510% More than > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% 5- - - 10% 13 The project contract may set suspensive conditions related to advance, interim and /or final payments. In justified cases, at the Programme Operator’s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity proceed with these payments. 14 Retention may be applied at the end of the implementation or pro rata from each advance and interim payments. The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 one month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 one month. The approval of project interim and final reports shall take place within 3 three months from the submission of the required information. The periodicity of reporting periods periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment4 Less than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 25% - 5% More than 36 months 10% 20% 20% 25% 20% 5% 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance paymentspayment, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project implementation duration3 duration4 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim Final payment5 4 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 5 Retention may be applied at the end of the implementation or pro rata from each advance payment Final payment4 and interim payments. Less than 12 months 35% 55% - - 10% 12-24 months 25% 45% 20% - 10% More than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 2515% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The advance payment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 3 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 4 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 3 months from the submission of the required information. The periodicity of reporting periods and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.