Common use of Payment flows Clause in Contracts

Payment flows. The Programme Operator shall ensure that funds are available for payments to projects in a timely manner. Payments of the project grant may take the form of advance payments, interim payments and final payments. Advance payments can be up to 30% of the total awarded grant amount in accordance with Slovenian national legislation and if funds are available at the Programme Operator's designated budget lines within the State budget. The advance payment shall be paid to Project Promoter in line with Slovenian national legislation in 30 days following the signature of the Project Contract. Subsequent interim payments shall be paid no later than 30 days after the approval of Project Interim Reports. The frequency of interim reporting to the Programme Operator shall be based on an agreed timetable. Final payment will be paid after the approval of a final project report. For projects of which Project Promoters are direct State budget users there are no actual payment transfers between the Programme Operator and the Project Promoter. In this situation the programme funding is stated as appropriations within the national budget on Project Promoter's designated budget lines. For Outcome 2, payments towards the projects will be in the form of advance payments, of up to 80 % of the total awarded grant amount, and in the form of reimbursements of incurred expenditure to be paid after the approval of a Final Project Report. The level of advance payments to be provided to Project Promoters shall be linked to the project implementation duration according to the overview below: Project Implementation Duration First Advance Payment Interim Payment Final Payment (reimbursement) <12 Months 80% - 20% >12 Months 40% 40% 20% The first advance payment shall be paid in 30 days following the signature of the Project Contract. Subsequent interim payments shall be paid after the approval of Project Interim Reports. Payments shall be transferred to the Project Promoters no later than 60 days from the submission of an Interim Project Report. The frequency of interim reporting to the Programme Operator shall be based on an agreed timetable. Advance payments are offset against incurred expenditure reported in the Project Interim Reports. Project Promoters can receive any interim payments only when 70 % of all previously provided payments have been reported as incurred in the Project Interim Reports.

Payment flows. The Programme Operator shall ensure that funds are available for payments to projects in a timely manner. Payments of the project grant may take the form of advance payments, interim payments and final payments. Advance payments can be up to 30% of the total awarded grant amount in accordance with Slovenian national legislation and if funds are available at the Programme Operator's designated budget lines within the State budget. The advance payment shall be paid to Project Promoter in line with Slovenian national legislation in 30 days following the signature of the Project Contract. Subsequent interim payments shall be paid no later than 30 days after the approval of Project Interim Reports. The frequency of interim reporting to the Programme Operator shall be based on an agreed timetable. Final payment will be paid after the approval of a final project report. For projects of which Project Promoters are direct State budget users there are no actual payment transfers between the Programme Operator and the Project Promoter. In this situation the programme funding is stated as appropriations within the national budget on Project Promoter's designated budget lines. For Outcome 2, payments towards the projects will be in the form of advance payments, of up to 80 % of the total awarded grant amount, and in the form of reimbursements of incurred expenditure to be paid after the approval of a Final Project Report. The level of advance payments to be provided to Project Promoters shall be linked to the project implementation duration according to the overview below: Project Implementation Duration First Advance Payment Interim Payment Final Payment (reimbursement) <12 Months 80% - 20% >12 Months 40% 40% 20% The first advance payment shall be paid in 30 days following the signature of the Project Contract. Subsequent interim payments shall be paid after the approval of Project Interim Reports. Payments shall be transferred to the Project Promoters no later than 60 days from the submission of an Interim Project Report. The frequency of interim reporting to the Programme Operator shall be based on an agreed timetable. Advance payments are offset against incurred expenditure reported in the Project Interim Reports. Project Promoters can receive any interim payments only when 70 % of all previously provided payments have been reported as incurred in the Project Interim Reports.Project