Common use of PAYMENTS AND PAYMENT ARRANGEMENTS Clause in Contracts

PAYMENTS AND PAYMENT ARRANGEMENTS. 5.1 Payments to be made Frontex must make the following payments to the beneficiary: - one pre-financing payment, if requested by the Beneficiary and approved by Frontex as stated in Article 5.2; - one payment of the balance, on the basis of the request for payment of the balance referred to in Article 4.2. 5.2 Pre-financing payment[s] The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of Frontex until it is cleared against the payment of the balance. Following the signature of the Agreement by the last party and its receipt by Frontex, the Beneficiary may send to Frontex a request for the pre-financing up to 80% of the cost. Frontex shall assess the payment request and, if approved, pay within 30 days from receipt of the request for pre-financing, except if Article II.24.1 of the Framework agreement applies. 5.3 Interim payment[s] Not applicable 5.4 Payment of the balance The payment of the balance reimburses or covers the remaining part of the eligible costs and contributions for the implementation of the action. If the total amount of earlier payments is greater than the final amount of the grant determined in accordance with Article II.25 of the Framework agreement, the payment of the balance takes the form of a recovery as provided for by Article II.26 of the Framework agreement. If the total amount of earlier payments is lower than the final amount of the grant determined in accordance with Article II.25 of the Framework agreement, Frontex must pay the balance within 60 calendar days from when it receives the documents referred to in Article 4.2, except if Article II.24.1 or II.24.2 of the Framework agreement apply. Payment is subject to the approval of the request for payment of the balance and of the accompanying documents. Their approval does not imply recognition of the compliance, authenticity, completeness or correctness of their content. Frontex determines the amount due as the balance by deducting the total amount of pre-financing already made from the final amount of the grant determined in accordance with Article II.25 of the Framework agreement. The amount to be paid may, however, be offset, without the beneficiary’s consent, against any other amount owed by the beneficiary to up to the maximum amount of the grant. Determining the final amount to be paid is conducted according to an ED decision on ex-ante policy currently in force. In case of grants where the majority of costs is based on unit costs and the grant amount exceeds EUR 60.000, ex-ante control includes a sample check of the number of units claimed under a specific record against supporting documents. A record is defined as an entry related to a given type of cost in the final monitoring report. The selected records will be communicated to the Beneficiary after the final confirmation of the final monitoring report. 5.5 Notification of amounts due Frontex must send a formal notification to the beneficiary: informing it of the amount due; and specifying whether the notification concerns the payment of the balance. For the payment of the balance, Frontex must also specify the final amount of the grant determined in accordance with Article II.25 of the Framework agreement.