Common use of Payment flows Clause in Contracts

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The advance payments and interim payments shall be based on a pre-financing model as follows: Advance Payment Interim Payment Final Balance Payment (reimbursement) SGS Outcome 2 Up to 30% Up to 40% Remaining eligible amount  Advance payments shall be paid within maximum 40 working days after signature of the grant contract.  Interim and final payments shall be paid within maximum 40 working days after the approval of the project interim/final report.  The approval of project interim/final reports shall take place within maximum 40 working days from the submission of all the required information. With reference to the financial reporting, all the Project Promoters shall be required to submit, for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall 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. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & and Investments will shall submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to For pre-defined projects awarded to NGOs in the framework of the Small Grant Schemeimplemented by public sector bodies, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The advance payments and interim payments these entities shall be based on a pre-financing model financed as follows: Advance Payment payment Interim Payment payments Final Balance Payment Payments (reimbursement) SGS Outcome 2 Up to 3035% Up to 4035% Remaining eligible amount  • Advance payments shall be paid within maximum 40 30 working days after signature of the grant project contract.  • Interim and final payments shall be paid within maximum 40 30 working days after the approval of the project interim/final report.  • The approval of project interim/final reports shall take place within maximum 40 30 working days from the submission of all the required information. With reference to Notwithstanding the above description of the financial reportingflows, all the Project Promoters shall be required to submit, for the Programme Operator review shall ensure that, in the case of projects implemented by or in partnership with international organisations, or a body or an agency thereof, advance payments and approvalall subsequent payments to the project from the Programme are sufficient to ensure that pre-financing requirements can be met and that all payments due to the international organisation, interim and final financial reportsor a body or an agency thereof, are made without delay. The periodicity of reporting requirements, including periods and submission deadlines, shall deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the 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 to the Project Promoters shall take the form of advance payments, interim payments and payments of the a final balancepayment. The level of advance payments and interim payments payment to projects shall be based on a pre-financing model set out in the project contract. The maximum level of advance payment shall be linked to the project budget and duration as follows: Project type and implementation duration Advance Payment Interim Payment payment First interim payment Final Balance Payment (reimbursement) SGS Outcome 2 payment Cooperation projects under Baltic Research Programme up to the year 2023 Up to 60% Up to 30% 10% Scholarships – Mobility of HEI staff up to 12 months Up to 70% Up to 20% 10% Scholarships – Institutional cooperation projects up to 24 months Up to 40% Up to 40% Remaining eligible 20% Scholarships – Visiting lectureship of Norwegian language at Tartu University Up to 70% Up to 20% 10% Scholarships – Developing and enhancing the teaching quality of inclusive education curriculum Up to 50% Up to 40% 10% The first advance instalment 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 of a percentage of the total grant amount  Advance shall be paid within 1 month from the submission of a request after signature of the project contract. The interim payments shall be paid within maximum 40 working days 3 months after signature the submission of the grant contract.  Interim interim project report and final payments shall be paid within maximum 40 working days 1 month after the approval of project interim reports. Upon approval of the final project interim/report a final reportbalance payment, if applicable, shall be made within 1 month.  The approval of project interim/interim and final reports shall take place within maximum 40 working days 2 months from the submission of all the required information. With reference to the financial reportingThe periodicity of reporting periods, all the Project Promoters shall be required to submit, and deadlines for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall will be further detailed in the description of the Programme Operator’s management and control systems. In case of euro-denominated contracts with entities from Donor States or with intergovernmental organizations, the Programme Operator shall transfer the amounts in euro. All relevant rules on financial reporting, payment flows and proof of expenditure contained in the Regulation and the Guideline for Research Programmes shall be complied with.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the 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 to the Project Promoters shall take the form of advance paymentspayment, interim payments and payments of the a final balancepayment. The advance payments payment shall be calculated as a percentage of the total grant awarded to 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 based on a pre-financing model as follows: Outcome Project Implementation Duration13 Advance payment 1st Interim Payment 2nd Interim Payment 3rd Interim Payment 4th Interim Payment Final Balance Payment (reimbursement) SGS Payment14 Outcome 2 Up to I < 24 months 20% 40% 30% Up - - 10% 24 – 36 months 15% 30% 25% 20% - 10% > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% - - - 10% 13 The project contract may set suspensive conditions related to 40% Remaining eligible 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  Advance 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 maximum 40 working days after signature of the grant contract.  Interim and final payments shall be paid within maximum 40 working days one month after the approval of project interim reports. Upon approval of the final project interim/report a final reportbalance payment, if applicable, shall be made within one month.  The approval of project interim/interim and final reports shall take place within maximum 40 working days three months from the submission of all the required information. With reference to the financial reportingThe periodicity of reporting periods, all the Project Promoters shall be required to submit, and deadlines for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development Development& Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Schemeentities other than public sector bodies, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The advance payments and interim payments shall be based on a pre-financing model as follows: Advance Payment Interim Payment Payment(s) Final Balance Payment (reimbursement) SGS Outcome 2 Up to 30% Up to 4050% Remaining eligible amount  - Advance payments shall be paid within maximum 40 30 working days after signature of the grant project contract.  - Interim and final payments shall be paid within maximum 40 30 working days after the approval of the project interim/final report.  - The approval of project interim/final reports shall take place within maximum 40 30 working days from the submission of all the required information. With reference to the financial reporting, all the Project Promoters shall be required to submit, for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the 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 to the Project Promoters shall take the form of advance paymentspayment, interim payments and payments of the a final balancepayment. The advance payments payment shall be calculated as a percentage of the total grant awarded to 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 based on a pre-financing model as follows: Outcome Project Implementation Duration15 Advance payment 1st Interim Payment 2nd Interim Payment 3rd Interim Payment 4th Interim Payment Final Balance Payment (reimbursement) SGS Payment16 Outcome 2 Up to I < 24 months 20% 40% 30% Up - - 10% 24 – 36 months 15% 30% 25% 20% - 10% > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% - - - 10% 15 The project contract may set suspensive conditions related to 40% Remaining eligible 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  Advance 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 maximum 40 working days after signature of the grant contract.  Interim and final payments shall be paid within maximum 40 working days one month after the approval of project interim reports. Upon approval of the final project interim/report a final reportbalance payment, if applicable, shall be made within one month.  The approval of project interim/interim and final reports shall take place within maximum 40 working days three months from the submission of all the required information. With reference to the financial reportingThe periodicity of reporting periods, all the Project Promoters shall be required to submit, and deadlines for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the The Programme Operator shall ensure that payments to projects are made in a timely manner. In case of euro-denominated contracts with entities from Donor States or with intergovernmental organizations, the Programme Operator shall transfer the amounts in euro. Pre-defined projects Payments of the project grant shall be processed on a regular basis and shall take the form of interim and final payments to the Project Promoters projects, based on claims for reimbursement of incurred expenditures, as and when uploaded on CARSII (the computerised accounting system managed by the PO) by the project promoters. The interim payments shall be paid within two (2) months after the approval of the Interim Financial Report (IFR) by the FMO on a bi-annual basis. Upon approval of the final project report, a final balance payment, if applicable, shall be made within two (2) months. The approval of project final report shall take place within three (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. SGS Payments of the project grant shall take the form of advance payments, interim payments and payments of the a final balancepayment. The level of advance payments and interim payments payment to projects shall be based on a pre-financing model set out in the project contract. The maximum level of advance payment shall be as follows: Advance Payment payment Interim Payment payments Final Balance Payment payments (reimbursementretention) SGS Outcome 2 Up to Projects 20-50% 30-60% Up to 4020% Remaining eligible The first advance instalment 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 of a percentage of the total grant amount  Advance shall be paid within one (1) month from the submission of a request by the project promoter after signature of the project contract. The interim payments shall be paid within maximum 40 working days after signature of the grant contract.  Interim and final payments shall be paid within maximum 40 working days two (2) months after the approval of project interim reports. Upon approval of the final project interim/report, a final reportbalance payment, if applicable, shall be made within two (2) months.  The approval of project interim/interim and final reports shall take place within maximum 40 working days three (3) months from the submission of all the required information. With reference to the financial reportingThe periodicity of reporting periods, all the Project Promoters shall be required to submit, and deadlines for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall 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. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & and Investments will shall submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. For pre-defined projects implemented by public sector bodies, these entities shall be financed as follows: Advance payment Interim payments Final Payments (reimbursement) Up to 30% Up to 50% Remaining eligible amount With reference to projects awarded to NGOs in the framework of the Small Grant Schemeentities other than public sector bodies, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The level of advance payments and interim payments payment to projects shall be based on a pre-financing model set out in the project contract. The maximum level of advance payment for projects supported under the SGSs shall be linked to the project budget and duration as follows: Advance Payment payment Interim Payment payments Final Balance Payment payments (reimbursement) SGS Outcome 2 Up to 30% Up to 4050% Remaining eligible amount  • Advance payments shall be paid within maximum 40 30 working days after signature of the grant project contract.  • Interim and final payments shall be paid within maximum 40 30 working days after the approval of the project interim/final report.  • The approval of project interim/final reports shall take place within maximum 40 30 working days from the submission of all the required information. With reference to the financial reporting, all the Project Promoters shall be required to submit, for the Programme Operator review and approval, interim and final financial reports. The periodicity of reporting requirements, including periods and submission deadlines, shall deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The advance payments and interim payments shall be based on a pre-financing model as follows: Advance Payment Interim Payment Final Balance Payment (reimbursement) SGS Outcome 2 Up to 30% Up to 40% Remaining eligible amount  Advance payments shall be paid within maximum 40 working days after signature of the grant contract.  Interim and final payments shall be paid within maximum 40 working days after the approval of the project interim/final report.  The approval of project interim/final reports shall take place within maximum 40 working days from the submission of all the required information. With reference to the financial reporting, all the Project Promoters shall be required to submit, for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The advance payments and interim payments shall be based on a pre-financing model as follows: Advance Payment Interim Payment Final Balance Payment (reimbursement) SGS Outcome 2 Up to 30% Up to 40% Remaining eligible amount  • Advance payments shall be paid within maximum 40 working days after signature of the grant contract.  • Interim and final payments shall be paid within maximum 40 working days after the approval of the project interim/final report.  • The approval of project interim/final reports shall take place within maximum 40 working days from the submission of all the required information. With reference to the financial reporting, all the Project Promoters shall be required to submit, for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall be further detailed in the description of the Programme Operator’s management and control systems.