Y-NEEW India Sample Clauses

Y-NEEW India. As the Field Partner a) Is solely responsible for the implementation of the project, following the agreed plan. b) Bears also the responsibility of all the intended and unintended consequences and possible damages associated with the implementation of the project. c) Needs to have a valid Foreign Contribution Regulation Act (FCRA) registration and should yearly send a copy of the audited FC-3 form to XXX , with copy to YNEEW Sweden. d) Promises to send a receipt, after receiving the fund, showing that the payment has been credited to its bank account. e) Nominates YNEEW Sweden as its local guardian and xxxxx to report to the same, as and when required. f) Is obliged to report to the XXX Sweden either directly or through YNEEW Sweden, on half yearly basis, or as and when required, on the progress of the project. The earliest report would be after 6 months, from the time of crediting the money into YNEEW India’s Account. g) The financial reports should be based on keeping accounts, where different cost elements are clearly grouped (Education, administration, purchase, revolving etc) as per the sanctioned heads of items. h) All financial reports should include auditors’ report, made by an external auditor, following the principles related to auditing, of the accounts of the whole project. i) Shall commit to self-financing of 16.60 % of the cost of the proposed project, SEK 16600.00 [ FIGURES ROUDNED] to be covered by the financial contribution of the beneficiaries of the project by means of labour, material gifts and partial financial contribution. j) Shall keep inventory of the property acquired with the support granted by the XXX Sweden, also specifying the details of the beneficiaries, location etc. k) Granted funds are meant to be used only for the intended purpose. Budget head changes that exceed 20 % need to be authorized by XXX Sweden. Surplus can be reallocated to other activities only after consultations with the XXX Sweden. l) The financial and narrative reports will follow the self styled formats. XXX can also request on specific formats, created by it, if need arises for it to do so. m) The XXX has to be mentioned as a source of funding in all publications and reports related to the agreed project. The XXX must receive a copy of all the documents produced with its financial support. n) Gives a representative of the XXX the right to follow, monitor and evaluate the progress of the project. It also promises to provide all the necessary information t...
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