Common use of Timing of the Grant Clause in Contracts

Timing of the Grant. 5.1. Grant Claims will be paid in accordance with the payment profile and triggers detailed in Schedule 2, within thirty (30) Calendar Days of the receipt and agreement of a correctly submitted Annex A and all supporting monitoring information as set out in Schedule 3. 5.2. The Authority shall have no liability to the Recipient for any Losses caused by a delay in the approval of, or amendment to, Eligible Expenditure howsoever arising. 5.3. In order for the Grant to be released, the Authority will require the Recipient to: a. have signed and returned a copy of this Grant Agreement to the Authority, and b. have provided the appropriate bank details, and c. be in compliance with the Grant Agreement throughout the period for which Eligible Expenditure is being claimed. 5.4. Payments will be made by BACS using account details that the Recipient must supply to the Authority. The Recipient is responsible for ensuring that the Authority has been notified of its correct bank account details and any subsequent changes. Original notification of, and all subsequent amendments to, the Recipient’s bank details must be provided on its own headed notepaper duly signed by a Senior Finance Officer. 5.5. The information which the Recipient must supply to the Authority to allow BACS payments is as follows: 1. Registered name of company 2. Trading name of company 3. Company registration number 4. Vat registration number 1. Email address for purchase orders 2. Email address for remittance advice 3. Email address for invoice queries 4. Telephone Number for Accounts Receivable/Credit Control 1. Registered Address 2. Credit Control/Finance Address 1. Bank Name 2. Branch name and address 3. Company Bank Account Name

Timing of the Grant. 5.1. Grant Claims will be paid in accordance with the payment profile and triggers detailed in Schedule 2, within thirty (30) Calendar Days of the receipt and agreement of a correctly submitted Annex A and all supporting monitoring information as set out in Schedule 3. 5.2. The Authority shall have no liability to the Recipient for any Losses caused by a delay in the approval of, or amendment to, Eligible Expenditure howsoever arising. 5.3. In order for the Grant to be released, the Authority will require the Recipient to: a. have signed and returned a copy of this Grant Agreement to the Authority, and b. have provided the appropriate bank details, and c. be in compliance with the Grant Agreement throughout the period for which Eligible Expenditure is being claimed. 5.4. Payments will be made by BACS using account details that the Recipient must supply to the Authority. The Recipient is responsible for ensuring that the Authority has been notified of its correct bank account details and any subsequent changes. Original notification of, and all subsequent amendments to, the Recipient’s bank details must be provided on its own headed notepaper duly signed by a Senior Finance Officer. 5.5. The information which the Recipient must supply to the Authority to allow BACS payments is as follows: : Recipient Details 1. Registered name of company company 2. Trading name of company company 3. Company registration number number 4. Vat registration number number Recipient Address Details 1. Registered Address 2. Credit Control/Finance Address Contact Details 1. Email address for purchase orders 2. Email address for remittance advice 3. Email address for invoice queries 4. Telephone Number for Accounts Receivable/Credit Control 1. Registered Address 2. Credit Control/Finance Address orders Payment Details 1. Bank Name 2. Branch name and address 3. Company Bank Account Name