Common use of Payment of Balance Clause in Contracts

Payment of Balance. The balance of the approved EU grant corresponding to the Co-Beneficiary (the estimated maximum EU grant is specified in Article 5 of this Contract), will be paid once the Co- beneficiary’s contractual agreements have been fully met, all the necessary supporting documentation has been received by the Coordinator, the Agency has approved the final report, and the total EU grant has been confirmed by the Agency and received by the Coordinator.