First pre-financing payment. The aim of the pre-financing is to provide the beneficiaries with a float. The pre-financing remains the property of the NA until the payment of the balance. [Option if the NA requires a pre-financing guarantee: The first pre-financing payment is done when the NA receives financial guarantee that fulfils the following conditions:
First pre-financing payment. The aim of the pre-financing is to provide the beneficiaries with a float. The pre-financing remains the property of the NA until the payment of the balance. The NA must make a first pre-financing payment to the coordinator within 30 calendar days following the entry into force of the Agreement of 78 892,00 EUR corresponding to 40% of the maximum grant amount specified in Article I.3.1, except if Article II.24 applies.
First pre-financing payment. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the NA until the payment of the balance. [Option if the NA requires a pre-financing guarantee: The first pre-financing payment is done when the NA receives financial guarantee that fulfils the following conditions: it is provided by a bank or an approved financial institution or, if requested by the beneficiary and accepted by the NA, by a third party; the guarantor stands as first-call guarantor and does not require the NA to first have recourse against the principal debtor (i.e. the beneficiary); and it explicitly remains in force until the pre-financing is cleared against payment of the balance by the NA. If the payment of the balance takes the form of a recovery, the financial guarantee must remain in force until three months after the debit note is notified to the beneficiary. The NA must release the guarantee within the following month.] [NA to choose between the following options:
First pre-financing payment. The coordinator must pay to the partner within 30 days following the entry into force of the Agreement a first pre-financing payment of EUR 13,676 corresponding to 40% of the maximum grant amount specified in Article IV.1.
First pre-financing payment. 2 1.Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%; in the case of Key Action 1 in Higher Education, the balance payment will be normally replaced by a further pre- financing based on an interim report. However, in case of lack of sufficient payment appropriations, the NA may:
First pre-financing payment. 2 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%.
