Payment flows. The Programme Operator shall ensure that 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 as follows: Advance payment Interim payments Final payment (reimbursement) Projects Up to 30% 30-90% 10% 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 will be paid after approval of the final report. An advance payment of a percentage of the total grant amount shall be paid within one month from the submission of a request after signature of the project contract. The interim payments shall be paid within one month after the approval of project interim reports. Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within two 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. In case of euro-denominated contracts with entities from Norway or with intergovernmental organisations, the Programme Operator shall transfer the amounts in euro.
Payment flows. With reference to projects implemented by public sector bodies, no actual payments from the Programme Operator to the Project Promoter will be made. All projects shall be pre-financed from the State budget (based on the financing needs of the project) following a receipt of the request from the Project Promoter. After the approval of the request by the Programme Operator, the Directorate for Public Investments of the Ministry of Development & Investments will submit an order to the Bank of Greece for the financing of the project. As far as the actual payments to the project contractors are concerned, each invoice, duly submitted for payment by the Project Promoter, will be paid within maximum 30 days from its submission. With reference to projects awarded to NGOs in the framework of the Small Grant Scheme, the Programme Operator shall ensure that payments to projects are made in a timely manner. Payments of the project grant to the Project Promoters shall take the form of advance payments, interim payments and payments of the final balance. The advance payments and interim payments shall be based on a pre-financing model as follows: Advance Payment Interim Payment Final Balance Payment (reimbursement) SGS Outcome 2 Up to 30% Up to 40% Remaining eligible amount Advance payments shall be paid within maximum 40 working days after signature of the grant contract. Interim and final payments shall be paid within maximum 40 working days after the approval of the project interim/final report. The approval of project interim/final reports shall take place within maximum 40 working days from the submission of all the required information. With reference to the financial reporting, all the Project Promoters shall be required to submit, for the Programme Operator review and approval, interim and final financial reports. The reporting requirements, including periods and submission deadlines, shall be further detailed in the description of the Programme Operator’s management and control systems.
Payment flows. The Programme Operator shall ensure that 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 Public entity No advance payment. 90% - Based on reimbursement of expenditure 10% Private entity ≤ 12 Months Up to 50% 40% 10% 12-18 months Up to 30% 60% 10% >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 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 project duration as follows: Project implementation duration Advance payment Maximum value of interim payments Final payment Public entities ≤18 Months 50% 50% N/A >18 Months 25% 75% N/A Private entities ≤18 Months 50% 40% 10% >18 Months 25% 65% 10% 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 will be paid after approval of the final report, where applicable. An advance payment of a percentage of the total grant amount shall be paid within one month from the submission of a request after signature of the project contract. The interim payments shall be paid within one month after the approval of project interim reports. Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within two months from the submission of the required information. Notwithstanding the above description of the financial flows, the Programme Operator shall ensure that, in the case of projects implemented by or in partnership with international organisations, or a body or an agency thereof, advance payments and all subsequent payments to the project from the Programme are sufficient to ensure that pre-financing requirements can be met and that all payments due to the international organisation, or a body or an agency thereof, are made without delay. 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 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 payment, 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 project budget and duration as follows: Project implementation duration1 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 Less than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 25% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The advance payment 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 will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 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 3 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 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 project budget and duration as follows:
Payment flows. The Programme Operator shall ensure that payments to projects are made in a timely manner. The Project Promoters have the possibility to request an advance payment not exceeding 30% of the total grant amount. The level of advance payment and the off-set mechanism will be specified in the Project Contract. A guarantee concerning an advance payment will be requested from Project Promoters considering the legal status of the project promoter and the amount of an advance payment. The interim payments will be based on pre-financing or reimbursement of expenditure. The Programme Operator has the possibility to withhold up to 10% of the total grant for the final balance. Additional information on the advance payment conditions and related guarantee, the off-set mechanism, the periodicity of reporting periods and deadlines for reporting shall be further outlined in the description of the Programme Operator's Management and Control Systems.
Payment flows. The Programme Operator shall ensure that 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 payment, 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 project budget and duration as follows: Project implementation duration1 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 Less than 24 months 20% 40% 30% - - 10% 24-36 months 15% 30% 25% 20% - 10% More than 36 months 10% 20% 20% 25% 15% 10% DocuSign Envelope ID: 4CFF4CE7-0C42-45B4-BD51-4F094135CB18 The advance payment 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 will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. Upon approval of the final project report a final balance payment, if applicable, shall be made within one month. The approval of project interim and final reports shall take place within three 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 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 payment, 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 project budget and duration as follows: Project implementation duration4 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment Final payment5 4 The project contract may set suspensive conditions related to advance, interim and/or final payments. In justified cases, at the Programme Operator´s discretion, a project promoter may receive extraordinary payments to ensure sufficient funds for the projects during the implementation so as to avoid any liquidity problems, provided that the Programme Operator has sufficient capacity to proceed with these payments. 5 Retention may be applied at the end of the implementation or pro rata from each advance payment and interim payments. Less than 12 months 35% 55% - - 10% 12-24 months 25% 45% 20% - 10% More than 24 months 20% 30% 25% 15% 10% The advance payment 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 will be paid after approval of the final report. An advance payment, if any, of a percentage of the total grant amount shall be paid within 15 working days from the submission of a request or within the period set in the project contract. The interim payments shall be paid within 1 month after the approval of project interim reports. 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 3 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 funds are available for payments to projects in a timely manner. Payments of the project grant may take the form of advance payments, interim payments and final payments. Advance payments can be up to 30% of the total awarded grant amount in accordance with Slovenian national legislation and if funds are available at the Programme Operator's designated budget lines within the State budget. The advance payment shall be paid to Project Promoter in line with Slovenian national legislation in 30 days following the signature of the Project Contract. Subsequent interim payments shall be paid no later than 30 days after the approval of Project Interim Reports. The frequency of interim reporting to the Programme Operator shall be based on an agreed timetable. Final payment will be paid after the approval of a final project report. For projects of which Project Promoters are direct State budget users there are no actual payment transfers between the Programme Operator and the Project Promoter. In this situation the programme funding is stated as appropriations within the national budget on Project Promoter's designated budget lines. For Outcome 2, payments towards the projects will be in the form of advance payments, of up to 80 % of the total awarded grant amount, and in the form of reimbursements of incurred expenditure to be paid after the approval of a Final Project Report. The level of advance payments to be provided to Project Promoters shall be linked to the project implementation duration according to the overview below: Project Implementation Duration First Advance Payment Interim Payment Final Payment (reimbursement) <12 Months 80% - 20% >12 Months 40% 40% 20% The first advance payment shall be paid in 30 days following the signature of the Project Contract. Subsequent interim payments shall be paid after the approval of Project Interim Reports. Payments shall be transferred to the Project Promoters no later than 60 days from the submission of an Interim Project Report. The frequency of interim reporting to the Programme Operator shall be based on an agreed timetable. Advance payments are offset against incurred expenditure reported in the Project Interim Reports. Project Promoters can receive any interim payments only when 70 % of all previously provided payments have been reported as incurred in the Project Interim Reports.
