Common use of Payment flows Clause in Contracts

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 paymentpayments, 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 payments to be provided to project promoters shall be linked to the type of project budget and to duration as follows: Project implementation duration1 Implementation Duration First Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Payment Second Advance Payment Final payment2 Less than Payment (reimbursement) Outcome 1 (ICP) 12 Months 80% 20% 24 months 20Months 40% 40% 3520% - - 5% 24-36 months 15% 30% 25% 25% - 5% More than 36 months 10Outcome 2 (mobility projects) 13 Months 80% 20% 20% 25Outcome 3 (VET) 13 Months 80% 20% 5Outcome 4 (inclusive education) 12 Months 80% 20% 24 Months 40% 40% 20% The first advance payment instalment, a percentage of the total grant amount, shall be paid within 1 month following the signature of the project contract. Subsequent 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. 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 2 months from the submission of the required information. The periodicity of reporting periods 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 paymentpayments, 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 duration2 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 payment3 Less than 24 months 20% 40% 3530% - - 510% 24-36 months 15% 30% 25% 2520% - 510% More than 36 months 10% 20% 20% 25% 2015% 510% 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 paymentpayments, 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 project budget and implementation duration as follows: Project implementation duration1 Advance Implementation Duration First advance payment 1st Interim payments Final payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 Less than 24 <12 months 20% 4070% 3510% - - 5% 24-36 12 months or more 15% 3075% 25% 25% - 5% More than 36 months 10% 20% 20% 25% 20% 5% The first advance payment 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 I month 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 2 months from the submission of the required information. The periodicity of reporting periods 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 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 paymentpayments, 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 duration20 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 payment21 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 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 12 months 35% 55% - - 10% 12-24 months 25% 45% 20% - 10% More than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 2515% - 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 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 duration3 Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 payment4 Less than 12 months 35% 55% - - 10% 12-24 months 25% 45% 20% - 10% More than 24 months 20% 40% 35% - - 5% 24-36 months 15% 30% 25% 2515% - 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.