Accountable Advance definition

Accountable Advance means any portion of the Conditional Grant advanced to the Recipient pursuant to Part 3.0, to be applied by the Recipient against Eligible Costs only, and which may become repayable by the Recipient, as provided for in this Agreement;

Accountable Advance means disbursement (transfer) of funds that are advanced to a staff member or an official on conditions that he/she will expend the funds for approved purposes only, account to the Union for expended funds, and return to the Union by a specified date any portion of funds that is not expended or accounted for.

Accountable Advance means that portion of the FII Project Funding advanced to the Recipient under this Agreement for the applicable Interim Period and which remains payable by the Recipient to FII pursuant to the terms of this Agreement until FII receives from the Recipient and approves the reports and statements more particularly described in Schedule 2 (Project Proposal, Budget and Reporting).

Examples of Accountable Advance in a sentence

• If the Budget is overspent during one Interim Period, the Accountable Advance to be made for the next Interim Period will be reduced by such over expenditure or if such Accountable Advance has already been made to the Recipient, and the Recipient will repay to FII, in accordance with this Agreement, an amount equal to such over expenditure.

• The Recipient will be required to account for the use of the Accountable Advances against the Eligible Costs, prior to issuance by FII of the next Accountable Advance payment.

• FII will not advance the Accountable Advance applicable to an Interim Period until an Interim Period report (containing both financial and operational elements) for the previous Interim Period has been received and accepted by FII.

• FII reserves the right to reduce the amount of any pending Accountable Advance to more accurately reflect the Recipient’s progress towards completion of the Work.

• A Staff Member may be authorized to take Accountable Advance in respect of approved expenses to be incurred in the course of official travel, facilitating workshops and other official activities of the Union.

• All Accountable Advance shall be retired within seven (7) working days following the return of the responsible staff member from the official trip or upon completion of the official activity for which the Accountable Advance was authorized.

• Accountable Advance not retired within the period provided under paragraph(3) above shall, without further recourse be recovered in full from the salary, wages and any other payments due to the responsible staff member from the next payroll date.

• A Staff Member to whom Accountable Advance is given shall be fully and personally responsible and accountable for the money.

• The Accountable Advance retirement shall be supported by relevant documents as stipulated in the Accounting Policies and Procedures Manual.

• The final 20% represents a holdback and is not an Accountable Advance.

More Definitions of Accountable Advance

Accountable Advance means a portion of the Investment Funding advanced to the Recipient pursuant to Article 4, to be applied by the Recipient against Approved Eligible Costs only, and which may become repayable by the Recipient, as provided for in this Agreement;

Accountable Advance means an accountable advance made under section 98 or 99; (avance à justifier)

Accountable Advance. Means an accountable advance made under Section 54 of the Financial Administration Act .

Accountable Advance means a sum of money advanced to a person for which such person is accountable and including imprest funds and working capital advances.