Common use of Funding Principles Clause in Contracts

Funding Principles. A Party which spends less than its allocated share of the budget as set out in the Consortium Plan or – in case of reimbursement via unit costs - implements less units than foreseen in the Consortium Plan will be funded in accordance with its actual duly justified eligible costs only. A Party that spends more than its allocated share of the budget as set out in the Consortium Plan will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share. The Grant Agreement explicitly gives a consortium the possibility to shift tasks and/or money between Parties. This is one reason for having a Consortium Plan that can be different from the actual Annex 1. [see also Section 7.1.1. and Section 1.2 for elucidation] This section makes sure that Parties will not be able to spend more than is permitted by the budget in the Consortium Plan. In case a Party spends more money, it may ask for a supplement. Such request shall be addressed to the General Assembly (see Section 6.3.1.2 [GOV LP] / 6.3.6 [GOV SP]). In cases the Consortium Plan is not deviating from Annex 1 this provision falls back to the standard provisions in the Grant Agreement, with the same effect. A Party may receive an additional contribution if at the end of the project the total eligible costs claimed allow a reallocation of unspent EU contribution among the consortium – to be decided in the General Assembly.