Common use of Assignable Clause in Contracts

Assignable. If a Project directly benefits from an item of cost, such costs should be directly assigned to the Project. In accordance with article 3.6, the Partner will indemnify ILRI for costs incurred contrary to this article 3.1. Partner will maintain separate cost accounts for the Project funds in order to report per budget line and to reconcile the account with reported expenditures [and to report on the agreed cost share contribution]. Bank transfer charges and exchange losses will not be charged to the Project funds, interest and exchange gains will be utilized by the Project and reported. Up to [ ] % budget variance per budget line is allowed as long as the total funding amount is not exceeded. Prior written approval from ILRI will be required for higher variances and/or to exceed the total budget amount. Audits [see instruction memo for possible scenarios] Upon request for Project audit, the Partner will comply by commissioning an independent audit by an external auditor at the Partners’ premises and submit the report to ILRI. The costs of such audits will be borne by the project funds and will comply with international auditing standards. The Partner agrees that it will indemnify ILRI against any losses or unaccounted for expenses including any expenditures deemed ineligible by auditor or Donor. ILRI reserves the right to withhold such amounts from any future disbursements to the Partner, including those related to other on-going agreements. Unutilized funds shall be remitted to ILRI within 30 (thirty) days from the end date of the Agreement or on/before submission of the final financial report. Project records will be maintained for up to 7 years after end of the Project. The Partner will, upon request, make available to ILRI or any Auditor contracted by ILRI, all financial information and documentation, including statement of accounts regarding this project and provide hard and soft copies of any supporting document. Additional Book keeping instructions: [list below if needed based on DD outcome/ delete article, see memo]

Assignable. If a Project directly benefits from an item of cost, such costs should be directly assigned to the Project. In accordance with article 3.6, the Partner will indemnify ILRI for costs incurred contrary to this article 3.1. Partner will maintain separate cost accounts for the Project funds in order to report per budget line and to reconcile the account with reported expenditures [and to report on the agreed cost share contribution]. Bank transfer charges and exchange losses will not be charged to the Project funds, interest and exchange gains will be utilized by the Project and reported. Up to [ ] % budget variance per budget line is allowed as long as the total funding amount is not exceeded. Prior written approval from ILRI will be required for higher variances and/or to exceed the total budget amount. Audits [see instruction memo for possible scenarios] Upon request for Project audit, the Partner will comply by commissioning an independent audit by an external auditor at the Partners’ premises and submit the report to ILRI. The costs of such audits will be borne by the project funds and will comply with international auditing standards. The Partner agrees that it will indemnify ILRI against any losses or unaccounted for expenses including any expenditures deemed ineligible by auditor or Donordonor. ILRI reserves the right to withhold such amounts from any future disbursements to the Partnerpartner, including those related to other on-going agreements. Unutilized funds shall be remitted to ILRI within 30 (thirty) days from the end date of the Agreement or on/before submission of the final financial report. Project records will be maintained for up to 7 years after end of the Project. The Partner willshall, upon request, make available to ILRI or any Auditor contracted by ILRI, all financial information and documentation, including statement of accounts regarding this project and provide hard and soft copies of any supporting document. Additional Book keeping instructions: [list below if needed based on DD outcome/ according to outcome DD, or delete article, see memo]