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 duration as follows: Project implementation duration Advance payment Maximum value of interim payments Final payment Public entities ≤18 Months 50% 50% N/A >18 Months 25% 75% N/A Private entities ≤18 Months 50% 40% 10% >18 Months 25% 65% 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, where applicable. An advance payment of a percentage of the total grant amount shall be paid within one month from the submission of a request after signature of the project contract. The interim payments shall be paid within one 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 one month. The approval of project interim and final reports shall take place within two months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator 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 all 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, or a body or an agency thereof, are made without delay. 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 type of project duration as followspromoter: Project implementation duration Advance Type of project promoter First advance payment Maximum value of interim Interim payments Final payment Public entities ≤18 Months 5030% 5070% N/A >18 Months 25% 75% N/A - Private entities ≤18 Months 5030% 40% 60%* 10% >18 Months 25% 65% 10% %* *Based on reimbursement of incurred expenditure 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, where if applicable. An advance payment of a percentage of the total grant amount shall be paid within one 1 month from the submission of a request after signature of the project contract. The interim payments shall be paid within one 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 one 1 month. The approval of project interim and final reports shall take place within two 2 months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator 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 all 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, or a body or an agency thereof, are made without delay. 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. Project Implementation Outcome Duration[1] Advance payment 1st Interim Payment 2nd Interim Payment 3rd Interim 4th Interim Payment Payment Final Payment[2] 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 duration as follows: Project implementation duration Advance payment Maximum value of interim payments Final payment Public entities ≤18 Months 50% 50% N/A >18 Months 25% 75% N/A Private entities ≤18 Months 50Outcome I < 24 months 20% 40% 30% - - 10% >18 Months 24 – 36 months 15% 30% 25% 6520% - 10% > 36 months 10% 20% 20% 25% 15% 10% Outcome II < 12 months 80% 10% - - - 10% ≥ 12 months 70% 20% - - - 10% The first advance instalment 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, where applicable. An advance payment payment, if any, of a percentage of the total grant amount shall be paid within one month 15 working days from the submission of a request after signature of or within the period set in the project contract. The interim payments shall be paid within one 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 one month. The approval of project interim and final reports shall take place within two three months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator 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 all 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, or a body or an agency thereof, are made without delay. 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 proceed with these payments. [2] Retention may be applied at the end of the implementation or pro rata from each advance 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 duration duration4 Advance payment Maximum value of interim payments 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment Public entities ≤18 Months 50% 50% N/A >18 Months 25% 75% N/A Private entities ≤18 Months 50payment5 Less than 24 months 20% 40% 30% - - 10% >18 Months 24-36 months 15% 30% 25% 6520% - 10% 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% 15% 10% The first advance instalment 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, where applicable. An advance payment payment, if any, of a percentage of the total grant amount shall be paid within one month 15 working days from the submission of a request after signature of or within the period set in the project contract. The interim payments shall be paid within one 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 one month. The approval of project interim and final reports shall take place within two three months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator 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 all 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, or a body or an agency thereof, are made without delay. 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 the 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 type of project duration promoter as follows: Project implementation duration Promoter Advance payment Maximum value of interim Interim payments Final payment (reimbursement) Public entities ≤18 Months 50entity associated with state budget No advance payment 90% 5010% N/A >18 Months 25Public entity not associated with state budget, private entity, NGO Up to 60% 7530% N/A Private entities ≤18 Months 50- 90% 10% Council of Europe 60% 40% 100% >18 Months 25% 65% 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, where applicable. An advance payment of a percentage of the total grant amount shall be paid within one month from the submission of a request after signature of the project contract. The interim payments shall be paid within one 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 one month. The approval of project interim and final reports shall take place within two months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator 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 all subsequent payments to the project from the Programme are sufficient to ensure that the pre-financing requirements can be met and that all payments due to the international organisation, or a body or an agency thereof, are made without delay. The first advance 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 interim payments shall be paid within 1 month after the approval of project interim reports. The final payment will be paid after approval of the final 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 2 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. In case of euro-denominated contracts with entities from the Donor States or with intergovernmental organizations, the Programme Operator shall transfer the amounts in euro.

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 duration duration6 Advance payment Maximum value 1st 2nd 3rd Final payment7 Interim payment Interim payment Interim payment 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 and interim payments Final payment Public entities ≤18 Months 50payments. Less than 12 months 35% 5055% N/A >18 Months - - 10% 12-24 months 25% 7545% N/A Private entities ≤18 Months 5020% 40% - 10% >18 Months More than 24 months 20% 30% 25% 6515% 10% The first advance instalment 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, where applicable. An advance payment payment, if any, of a percentage of the total grant amount shall be paid within one month 15 working days from the submission of a request after signature of or within the period set in the project contract. The interim payments shall be paid within one 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 one 1 month. The approval of project interim and final reports shall take place within two 3 months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator 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 all 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, or a body or an agency thereof, are made without delay. 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.