Common use of PAYMENTS AND PAYMENT ARRANGEMENTS Clause in Contracts

PAYMENTS AND PAYMENT ARRANGEMENTS. 17.1 Payments to be made 17.2 Pre-financing payment — Amount — Amount retained for the Guarantee Fund [OPTION 1 by default: The aim of the pre-financing is to provide the partner with a float. It remains the property of the EU until the payment of the balance. The [Commission][Agency] will — except if Article 54 FPA applies — make the pre-financing payment to the partner within 30 days, either from the entry into force of the Specific Agreement (see Article 21) or from 10 days before the starting date of the specific action (see Article 3), whichever is the latest. [OPTION 2 if the JRC is the partner: The [DG][Agency] will make a pre-financing payment of EUR [insert amount including the 5% to be paid to the Guarantee Fund (insert amount in words)], within 30 days from the submission of a debit note from the JRC after the signature of the ‘Arrangement’. The JRC agrees that the amount of EUR [insert amount: 5% of the grant amount intended for the JRC (insert amount in words)], corresponding to its contribution to the Guarantee Fund (see Article 21.2), is transferred in its name by the [DG][Agency] to the Guarantee Fund.]

PAYMENTS AND PAYMENT ARRANGEMENTS. 17.1 Payments to be made 17.2 Pre-financing payment — Amount — Amount retained for the Guarantee Fund [OPTION 1 by default: The aim of the pre-financing is to provide the partner with a float. It remains the property of the EU until the payment of the balance. The [Commission][Agency] will — except if Article 54 FPA applies — make the pre-financing payment to the partner within 30 days, either from the entry into force of the Specific Agreement (see Article 21) or from 10 days before the starting date of the specific action (see Article 3), whichever is the latest. [OPTION 2 if the JRC is the partner: The [DG][Agency] will make a pre-financing payment of EUR [insert amount including the 5% to be paid to the Guarantee Fund (insert amount in words)], within 30 days from the submission of a debit note from the JRC after the signature of the ‘Arrangement’. The JRC agrees that the amount of EUR [insert amount: 5% of the grant amount intended for the JRC (insert amount in words)], corresponding to its contribution to the Guarantee Fund (see Article 21.2), is transferred in its name by the [DG][Agency] to the Guarantee Fund.]Guarantee