Common use of Eligible Costs Clause in Contracts

Eligible Costs. II.14.1 To be considered as eligible costs of the action, costs must satisfy the following general criteria: • they must be connected with the subject of the agreement and they must be provided for in the estimated budget annexed to it; • they must be necessary for the implementation of the action which is the subject of the grant; • they must be reasonable and justified and they must comply with the requirements of sound financial management, in particular regarding economy and efficiency; • they must be incurred during the lifetime of the action as specified in Article I.2.2 of the agreement, with the exception of costs relating to final reports and certificates on financial statements and underlying accounts; • they must be actually incurred by the beneficiary, be recorded in his accounting records and determined according to the applicable accounting standards of the country where the beneficiary is established and according to his usual cost- accounting practices; • they must comply e with the requirements of the applicable tax and social legislation; • they must be identifiable and verifiable. The beneficiaries’ internal accounting and auditing procedures must permit direct reconciliation of the costs and revenue declared in respect of the action with the corresponding accounting statements and supporting documents.

Eligible Costs. II.14.1 To be considered as eligible costs of the action, costs must satisfy the following general criteria: • - they must be connected with the subject of the agreement and they must be provided for in the estimated budget annexed to it; • - they must be necessary for the implementation of the action which is the subject of the grant; • - they must be reasonable and justified and they must comply with the requirements of sound financial management, in particular regarding economy and efficiency; • - they must be incurred during the lifetime of the action as specified in Article I.2.2 of the agreement, with the exception of costs relating to final reports and certificates on financial statements and underlying accounts; • - they must be actually incurred by the beneficiary, be recorded in his accounting records and determined according to the applicable accounting standards of the country where the beneficiary is established and according to his usual cost- accounting practices; • - they must comply e with the requirements of the applicable tax and social legislation; • - they must be identifiable and verifiable. The beneficiaries’ beneficiary’s internal accounting and auditing procedures must permit direct reconciliation of the costs and revenue declared in respect of the action with the corresponding accounting statements and supporting documents.

Eligible Costs. II.14.1 To be considered as eligible costs of the action, costs must satisfy the following general criteria: • they must be connected with the subject of the agreement and they must be provided for in the estimated budget annexed to it; • they must be necessary for the implementation of the action which is the subject of the grant; • they must be reasonable and justified and they must comply with the requirements of sound financial management, in particular regarding economy and efficiency; • they must be incurred during the lifetime of the action as specified in Article I.2.2 of the agreement, with the exception of costs relating to final reports and certificates on financial statements and underlying accounts; • they must be actually incurred by the beneficiary, be recorded in his accounting records and determined according to the applicable accounting standards of the country where the beneficiary is established and according to his usual cost- accounting practices; • they must comply e with the requirements of the applicable tax and social legislation; • they must be identifiable and verifiable. The beneficiaries’ internal accounting and auditing procedures must permit direct reconciliation of the costs and revenue declared in respect of the action with the corresponding accounting statements and supporting documents.