Common use of Payment modalities Clause in Contracts

Payment modalities. Either [The funds will be transferred in instalments on the basis of a request, the template for which is given in Annex III. Each instalment is considered an independent grant in application of this agreement. The value of all these instalments may in no case exceed the total value of the grant mentioned in Article 2. Except for the first instalment, at least 75 % of the preceding instalment must be spent before the next instalment is paid.] [A final instalment of <5 to 10 %> will be reserved for payment following the production of the final execution report and all supporting documents substantiating the global value of the grant.] The tentative planning of the instalments is given below Insert indicative planning of instalments Or [The funds will be transferred in instalments as reimbursements of expenses actually incurred by the contracting beneficiary, based on requests, for which the template is given in Annex III. The value of all these instalments may in no case exceed the total value of the grant mentioned in Article 2. The tentative planning of the reimbursement instalments is given below: Insert indicative planning of reimbursements Bank account: The funds are solely disbursed into the [separate] bank account mentioned in the Financial Identification Form in Annex VI.

Payment modalities. Either [The funds will be transferred in instalments on the basis of a request, the template for which is given in Annex III. Each instalment is considered an independent grant in application of this agreement. The value of all these instalments may in no case exceed the total value of the grant mentioned in Article 2. Except for the first instalment, at least 75 % of the preceding instalment must be spent before the next instalment is paid.] [A final instalment of <5 to 10 %> will be reserved for payment following the production reception and validation of the final execution report and all supporting documents substantiating the global value of the grant.] The tentative planning of the instalments is given below Insert indicative planning of instalments Or [The funds will be transferred in instalments as reimbursements of expenses actually incurred by the contracting beneficiary, based on requests, for which the template is given in Annex III. The value of all these instalments may in no case exceed the total value of the grant mentioned in Article 2. The tentative planning of the reimbursement instalments is given below: Insert indicative planning of reimbursements Bank account: The funds are solely disbursed into the [separate] bank account mentioned in the Financial Identification Form in Annex VI.