Financial Limitation definition
Examples of Financial Limitation in a sentence
The total amount of funds payable by ACIAR to the Commissioned Agent for the Services is the Financial Limitation specified in the SRA Letter of Agreement.
AusAID shall not be liable for any expenditure in excess of the Financial Limitation set out in any Grant Orders or for any expenditure on Initiatives not approved in writing by AusAID before the expenditure is incurred.
AusAID will: if determined by any reconciliation completed as a result of clause 18.4(c), provide such monies as may be agreed with the Organisation to meet existing financial commitments and obligations; but not be liable to pay compensation in an amount which, in addition to any amounts paid or due or becoming due to the Organisation under the relevant Grant Order(s) together would exceed the Financial Limitation.
This Financial Limitation is exclusive of any GST and or VAT which may be payable.
Notwithstanding clause 5.5, ACIAR shall withhold from the final payment a Withholding Payment as follows: the sum of A$10,000 where the Financial Limitation is less than or equal to A$250,000; or the sum of A$20,000 where the Financial Limitation is greater than A$250,000; pending acceptance of a satisfactory Final Report as detailed in clause 15..
Notwithstanding clause 5.5, ACIAR shall withhold from the final payment a Withholding Payment as follows: the sum of A$10,000 where the Financial Limitation is less than or equal to A$250,000; or the sum of A$20,000 where the Financial Limitation is greater than A$250,000; pending acceptance of a satisfactory Final Report as detailed in clause 18..
If “N/A” is selected, then the Agreement should NOT be varied to extend the term later - this will be reported on AusTender] Financial Limitation [Financial Limitation] Withheld Sum AUD 20,000.00 Project Leader As detailed in the Project Document.