Distribution of Financial Contribution. The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.
Distribution of Financial Contribution. The financial contribution of the Programme Operator to the Project shall be distributed by the Project Promoter according to: - the Partnership Budget (Budget Breakdown) - the approval of reports by the Programme Operator, and - the provisions of payment in Article 7.3. A Party shall be funded only for its tasks carried out in accordance with the funding application.
Distribution of Financial Contribution. The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan. According to Article 4.2 of the Grant Agreement, Beneficiaries are allowed to transfer budget between different activities and between themselves. Consequently, in Horizon 2020 it is in the consortium’s authority to implement the redistribution of tasks and budget according to the Consortium Plan. The updating of the Consortium Plan including the re-budgeting process characterises the following cycle: decision on the Consortium Plan (Grant Agreement Annexes 1and 2 as starting point) implementation of the Consortium Plan reporting of the implemented activities approval of reports/deliverables by the Funding Authority actualisation and re-planning for the next Consortium Plan decision on this proposed Consortium Plan by the General Assembly next management cycle of actualisation of the Consortium Plan including the re-budgeting. As a consequence the description of the action in Annex 1 and the budget in Annex 2 may have to be updated following re-planning. See also elucidation to “Consortium Plan” in the definitions section.
Distribution of Financial Contribution. The Community financial contribution to the Project shall be distributed by the Coordinator according to: the Consortium Budget as included in the Consortium Plan the approval of reports by the European Commission, and the provisions of payment in Article 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.
Distribution of Financial Contribution. The financial contribution of the Union to the Project shall be distributed by the Coordinator according to: – the Consortium Budget as included in the Consortium Plan; – the approval of reports by the European Commission; and
Distribution of Financial Contribution. The financial contribution of the Granting Authority to the Project shall be distributed by the Project Leader according to: − the Project Plan − the approval of reports by the Granting Authority, and − the provisions of payment in Section 7.2. A Party shall be funded only for its tasks carried out in accordance with the Project Plan.
Distribution of Financial Contribution. The financial contribution to be granted to the Subgrantee shall be distributed in accordance with the provisions of the Guidelines for Applicants (in Annex 3 of this document). In any case, the financial grant to be paid will always be subject to: ● Reception of the relevant deliverable(s) ● A favorable resolution by the evaluators and SoTecIn Factory partner responsible for assessing the subproject execution. ● Reception of the Request for Payment electronically. ● The Subgrantee’s Bank matches the Instructions for payment issued by the bank of the Subgrantee. ● Payments to the Subgrantee will be made by the Treasurer. In particular: - The Treasurer reserves the right to withhold the payments in case the Subgrantee does not fulfil its obligations and tasks as per the Open Call 2 Guidelines for Applicants (in Annex 1). - Banking and transaction costs charged by any of the banks related to the handling of any financial resources made available to the Subgrantee by the Treasurer shall be covered by the holder of the bank account which originated the cost. This means that the Treasurer bears the cost of transfers charged by their bank and the Subgrantee bears the costs of transfers charged by the bank of the Subgrantee.
Distribution of Financial Contribution. The financial contribution of the Granting Authority to the Project shall be distributed by the Coordinator according to: − the Consortium Plan − the approval of reports by the Granting Authority, and − the provisions of payment in Section 7.2. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan. According to Article 5.5. of the Grant Agreement, Beneficiaries are allowed to transfer budget between different activities and between themselves. Consequently, in Horizon Europe it is in the consortium’s authority to implement the redistribution of tasks and budget according to the Consortium Plan. Above all management challenges require effective and regular (re-) budgeting of all resources needed to execute the Project, taking into account that 15 % of the maximum contribution will only be paid to the consortium after the end of the project. As a consequence of the (re-) budgeting process an updated Consortium Plan will be issued. The consortium may face the need to fine tune for different funding modes (eligible costs, lump sum, flat rate and scale of unit costs) within the Project. The various schemes may be imposed by the Granting Authority and/or implemented at the request of the consortium. As a consequence these will be reflected in the budget and the payment scheme for the related task. Referring to Innovation Actions that are coordinated by a for-profit organisation that thus only receives a funding rate of 70 %, it may be discussed in the consortium whether an additional agreement should be found on who will cover remaining management and dissemination costs. All Parties should inform the Coordinator at signature of the consortium agreement of their current bank account data for payment and as soon as any changes to this data occurs during the project. This is also relevant with regard to the avoidance of negative interest (see elucidations to 7.1.3.).
Distribution of Financial Contribution. The financial contribution to be granted to the Subgrantee shall be distributed in accordance with the provisions of the Annex 2: Open Call Guidelines for Mirror Regions (in Annex 1). In any case, the financial grant to be paid will always be subject to: ● Reception of the relevant deliverable(s) ● A favorable resolution by the evaluators and dRural partner responsible for assessing the subproject execution ● Reception of the Request for Payment and Certificate of Tax Residence (both electronically and in hard copy) ● The Subgrantee’s Bank Account (Annex 6) matches the Instructions for payment issued by the bank of the Subgrantee ● Payments to the Subgrantee will be made by the Treasurer. In particular: - The Treasurer reserves the right to withhold the payments in case the Subgrantee does not fulfil its obligations and tasks as per Annex 2 – Open Call Guidelines for Mirror Regions (in Annex 1). - Banking and transaction costs charged by any of the banks related to the handling of any financial resources made available to the Subgrantee by the Treasurer shall be covered by the holder of the bank account which originated the cost. This means that the Treasurer bears the cost of transfers charged by their bank and the Subgrantee bears the costs of transfers charged by the bank of the Subgrantee; ● Payments will be released by the Treasurer no later than ten working days after the notification by the Project Coordinator ● The Subgrantee is responsible for complying with any tax and legal obligations that might be attached to this financial contribution.
Distribution of Financial Contribution. The Community contribution to the Project shall be distributed by the Coordinator according to: • the Consortium Budget as included in the Consortium Plan • the approval of reports by the European Commission, and • the provisions of payment in Article 7.3. As described in the Consortium Plan, part of the Consortium Budget has to be reserved for specific purposes as detailed hereunder: • eight hundred thirty nine thousand nine hundred fifty two euro (839 952 €), is allocated to the demand driven extensions of Work Package 5 and corresponding dissemination in Work Package 8. This budget is temporary parked at IBBT. The budget will be assigned to the CREW Consortium, based on the type of extensions and based on the experience of the Parties. The final discussion on demand-driven extensions and corresponding budget allocation will be decided in consensus by the project Steering Committee. • eight hundred thirty nine thousand nine hundred fifty two euro (839 952 €), is allocated to external test cases of Work Package 7 and corresponding dissemination in Work Package 8. External test cases will be defined by the FIRE Users as a result from the open calls for experimentation. The budget for external test cases is temporary parked at TCS. The budget will be distributed to the FIRE Users. The final decision on FIRE Users and corresponding budget allocation will be decided in consensus by the Steering Committee and after agreement with the Project Officer. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.
