Examples of Accountable Advance in a sentence
FII reserves the right to reduce the amount of any pending Accountable Advance to more accurately reflect the Recipient’s progress towards completion of the Work.
FII will not advance the Accountable Advance applicable to an Interim Period until an Interim Period report (containing both financial and operational elements) for the previous Interim Period has been received and accepted by FII.
If the Budget is overspent during one Interim Period, the Accountable Advance to be made for the next Interim Period will be reduced by such over expenditure or if such Accountable Advance has already been made to the Recipient, and the Recipient will repay to FII, in accordance with this Agreement, an amount equal to such over expenditure.
The Recipient will be required to account for the use of the Accountable Advances against the Eligible Costs, prior to issuance by FII of the next Accountable Advance payment.
The acquittals for the Accountable Advance shall be submitted to the Accountant within seven (7) days from the time the employee returns and shall be reimbursed by the University within seven (7) days of submission.
In addition to any other allowance payable under this Agreement, all incidental expenses not covered under any other provisions in this agreement may be claimed by way of an Accountable Advance.
Accountable Advance: Money is issued in advance of expenditures (usually upon signature of the agreement).