Common use of Paying Authority Clause in Contracts

Paying Authority. The Paying Authority is the EU Paying Authority within the Ministry of Finance. The Paying Authority shall manage all operations related to financial transactions. The Paying Authority is responsible for ensuring correctness of all payment requests made to the FMO. The Paying Authority will verify such payment claims and certify its correctness and accuracy to the FMO. The Paying Authority will submit certified payment claims to the FMO and be responsible for receiving payments made by the FMO to the Government of Malta. The Paying Authority will also be responsible for liaising with the Treasury in order to effect payments to final beneficiaries where Government has not pre-financed the Norwegian component of the project in question. The Paying Authority will ensure that payments are made without delays. The Paying Authority is also responsible for keeping record of financial corrections and ensuring that any funds owed to Government or to the FMO (arising from any financial corrections) are collected and reimbursed. The Paying Authority will liaise with the Focal Point in developing the relevant procedures with respect to financial management.