Management of Community’s financial contribution Sample Clauses

Management of Community’s financial contribution. All financial management and accounting acts in connection with the Community’s contribution shall be made by the Coordinator in accordance with the relevant rules and in compliance with the rules defined by the Community in this field. The Coordinator shall identify in its accounts the Community’s contribution to the Programme of Activities and provide all required justifications upon the release of the funds. Where permitted by law, the Coordinator will open a separate bank account to receive the Commission’s contribution and make payments to Consortium Members. This bank account will be closed when all of the contributions have been remitted to the Consortium Members and in any event by no later than one (1) year after the termination of this Consortium Agreement.
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Management of Community’s financial contribution. The Coordinator, in accordance with the applicable rules, shall make all financial management and accounting acts in connection with the Community’s contribution. The Coordinator shall identify in its accounts the Community’s contribution to the Description of Work and provide all required justifications upon the release of the funds.
Sample 1
Management of Community’s financial contribution. All financial management and accounting acts in connection with the Community’s contribution shall be made by the Coordinator in accordance with the relevant rules and in compliance with the rules defined by the Community in this field. The Coordinator shall identify in a separate account the Community’s contribution to the Joint Programme of Activities and provide all required justifications upon the release of the funds. The Scientific Management Board may decide that a bank guarantee is required to be provided to the Coordinator by a Contractor, other than public bodies, international organizations or participants whose participation in the Project is guaranteed by a Member State or by an associated State.
Sample 1

Related to Management of Community’s financial contribution

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