Common use of Pre-financing Clause in Contracts

Pre-financing. (1) The minimum requirements for a pre-financing payment request are the following: (a) the NAO has notified to the Commission the opening of the euro account concerned; (b) the relevant Financing Agreement has been concluded and is in force. (2) The detailed provisions concerning the calculation of pre-financing payments for annual and multi-annual programmes shall be set in the Sectoral and/or Financing Agreements. (3) The total pre-financing amount shall be cleared at the latest when the programme is closed unless otherwise specified in the Sectoral or Financing Agreement.

Pre-financing. (1) The minimum requirements for a pre-financing payment request are the following: (a) the NAO has notified to the Commission the opening of the euro account concerned; (b) the relevant Financing Agreement financing agreement has been concluded and is in entered into force. (2) The detailed provisions concerning the calculation of pre-financing payments for annual and multi-annual programmes shall be set in the Sectoral and/or Financing Agreementssectoral or financing agreements. (3) The total pre-financing amount shall be cleared at the latest when the programme is closed unless otherwise specified in the Sectoral or Financing Agreementprogrammes are closed.

Pre-financing. ‌ (1) The minimum requirements for a pre-financing payment request are the following: (a) the NAO has notified to the Commission the opening of the euro account concerned; (b) the relevant Financing Agreement financing agreement has been concluded and is in entered into force. (2) The detailed provisions concerning the calculation of pre-financing payments for annual and multi-annual programmes shall be set in the Sectoral and/or Financing Agreementssectoral or financing agreements. (3) The total pre-financing amount shall be cleared at the latest when the programme is closed unless otherwise specified in the Sectoral or Financing Agreementprogrammes are closed.