Common use of Payment flows Clause in Contracts

Payment flows. The Programme Operator shall ensure that the payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the type of project promoter as follows: Project Promoter Advance payment Interim payments Final payment (reimbursement) Public entity associated with state budget No advance payment 90% 10% Public entity not associated with state budget Up to 60% 30% - 90% 10% The first advance instalment shall be paid following the signature of the project contract. An advance payment of a percentage of the total grant amount shall be paid within 1 month from the submission of a request after signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The interim payments shall be paid within 1 month after the approval of project interim reports. The final payment will be paid after approval of the final report. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 2 months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that the payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the type of project promoter implementation duration as follows: Project Promoter Advance payment Interim payments Final payment (reimbursement) Public entity associated with state budget No advance payment 90<12 Months 20% 70% 10% Public entity not associated with state budget Up to 60≥12-Months 15% 30% - 9075% 10% * The project promoters will receive next interim payments only when 50% of the previously provided payment has been reported as incurred in the project interim reports The first advance instalment shall be paid following the signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The final payment, if applicable, will be paid after approval of the final report. An advance payment of a percentage of the total grant amount shall be paid within 1 month from the submission of a request after signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The interim payments shall be paid within 1 month after the approval of project interim reports. The final payment will be paid after approval of the final report. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 2 months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that the payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim Interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment shall be linked to the type of project promoter implementation duration as follows: Project Promoter Advance Implementation Duration First advance payment Interim payments Final payment (reimbursement) Public entity associated with state budget No advance payment 90<12 months 20% 70% 10% Public entity not associated with state budget Up to 6012 months or more 15% 30% - 9075% 10% The first advance instalment shall be paid following the signature of the project contract. An advance payment of a percentage of the total grant amount shall be paid within 1 month from the submission of a request after signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The interim payments shall be paid within 1 I month after the approval of project interim reports. The final payment will be paid after approval of the final report. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 2 months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting repotting will be further detailed in the description of the Programme Operator’s ' s management and control systems.

Payment flows. The Programme Operator shall ensure that the payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment is 50% of the project grant in the case of private entities. There is no advance for public entities associated with state budget. The maximum level of advance payment shall be linked to the type of project promoter and duration as follows: Project Promoter Project implementation duration Maximum Advance payment Interim payments Final payment (reimbursement) Public entity associated with state budget No advance payment payment. 90% - Based on reimbursement of expenditure 10% Public entity not associated with state budget or private entity* ≤ 12 Months Up to 50% 40% 10% 12-18 months Up to 30% 60% 3010% - 90>18 Months Up to 20% 70% 10% The first advance instalment shall be paid following the signature of the project contract. An advance payment of a percentage of the total grant amount shall be paid within 1 month from the submission of a request after signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The interim payments shall be paid within 1 month after the approval of project interim reports. The final payment will be paid after approval of the final report. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 2 months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.

Payment flows. The Programme Operator shall ensure that the payments to projects are made in a timely manner. Interim and final payments to the projects shall be based on approved project reports. Payments of the project grant shall take the form of advance payments, interim payments and a final payment. The level of advance payment to projects shall be set out in the project contract. The maximum level of advance payment is 50% of the project grant in the case of private entities. There is no advance for public entities. The maximum level of advance payment shall be linked to the type of project promoter and duration as follows: Project Promoter Project implementation duration Maximum Advance payment Interim payments Final payment (reimbursement) Public entity associated with state budget No advance payment payment. 90% - Based on reimbursement of expenditure 10% Private entity ≤ 12 Months Up to 50% 40% 10% Public entity not associated with state budget 12-18 months Up to 30% 60% 3010% - 90>18 Months Up to 20% 70% 10% The first advance instalment shall be paid following the signature of the project contract. An advance payment of a percentage of the total grant amount shall be paid within 1 month from the submission of a request after signature of the project contract. Subsequent payments shall be paid after the approval of project interim reports. The interim payments shall be paid within 1 month after the approval of project interim reports. The final payment will be paid after approval of the final report. Upon approval of the final project report a final balance payment, if applicable, shall be made within 1 month. The approval of project interim and final reports shall take place within 2 months from the submission of the required information. The periodicity of reporting periods, and deadlines for reporting will be further detailed in the description of the Programme Operator’s management and control systems.