Common use of Paying Authority Clause in Contracts

Paying Authority. Further provisions on financial flows, the paying authority, and financial management will be elaborated as soon as possible in an agreement between the FMO and the FP, confirmed by the EFTA States and the Republic of Slovenia in the form of exchange of letter. The agreement shall contain provisions on the role of the National Fund and the Central Finance and Contract Unit. The agreement shall put in place an efficient payment system ensuring that funds from the EEA Financial Mechanism are being used efficiently and correctly and in accordance with the principles of sound financial management. The system shall ensure that the processing of payment claims is independent from other entities or agencies involved in the implementation of the EEA Financial Mechanism.