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% 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 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 implementation duration as follows: Project implementation duration1 Implementation Duration First Advance payment 1st Interim payment 2nd Interim payment 3rd Interim payment 4th Interim payment payments* Final payment2 Less than 24 months Payment (reimbursement) <12 Months 20% 40% 30% - - 10% 24-36 months 15% 30% 25% 20% - 10% More than 36 months 10% 20% 20% 25% 1570% 10% DocuSign Envelope ID: 4CFF4CE7≥12-0C42-45B4-BD51-4F094135CB18 Months 15% 75% 10% * The project promoters will receive next interim payments only when 50% of the previously provided payment has been reported as incurred in the project interim reports The first advance payment 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 payment, if applicable, will be paid after approval of the final report. An advance payment, if any, payment of a percentage of the total grant amount shall be paid within 15 working days 1 month from the submission of a request or within the period set in after signature of 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 1 month. The approval of project interim and final reports shall take place within three 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 duration Advance payment 1st Interim payments Final payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 Less than 24 months 2012 Months Up to 35% 40% (up to 15%*) Total interim payments up to 60%. A single interim payment up to 30% - - 10depending on the project length. Up to 5% 24-36 months (up to 25%*) Remaining amount More Months than 12 Up to 45% (up to 15%*) Up to 50 % 30(up to 60%*) Up to 5% (up to 25% 20% - 10% More than 36 months 10% 20% 20% 25% 15% 10% DocuSign Envelope ID: 4CFF4CE7-0C42-45B4-BD51-4F094135CB18 %*) Remaining amount *Where the project promoter is a private entity or NGO. The first advance payment 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, if any, payment of a percentage of the total grant amount shall be paid within 15 working days 1 month from the submission of a request or within the period set in after signature of 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 1 month. The approval of project interim and final reports shall take place within three 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. In case of euro-denominated contracts with entities from Donor States or with intergovernmental organizations, the Programme Operator shall transfer the amounts in euro.

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 duration Advance payment 1st Interim payments Final payment 2nd Interim payment 3rd Interim payment 4th Interim payment Final payment2 Less than 24 months 2012 Months Up to 35% 40% (up to 15%*) Total interim payments up to 60%. A single interim payment up to 30% - - 10depending on the project length. Up to 5% 24-36 months (up to 25%*) Remaining amount More Months than 12 Up to 45% (up to 15%*) Up to 5% 30(up to 25%*) Up to 50 % 25% 20% - 10% More than 36 months 10% 20% 20% 25% 15% 10% DocuSign Envelope ID: 4CFF4CE7-0C42-45B4-BD51-4F094135CB18 (up to 60%*) Remaining amount *Where the project promoter is a private entity or NGO. The first advance payment 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, if any, payment of a percentage of the total grant amount shall be paid within 15 working days 1 month from the submission of a request or within the period set in after signature of 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 1 month. The approval of project interim and final reports shall take place within three 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. In case of euro-denominated contracts with entities from Donor States or with intergovernmental organizations, the Programme Operator shall transfer the amounts in euro.

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 duration Advance payment 1st Interim First interim payment 2nd Interim payment 3rd Interim payment 4th Interim Second interim payment Final payment2 Less than 24 months 20payment <12 Months Up to 45% 40(up to15%*) Up to 25% (up to30%*) Up to 25% (up to30%*) Up to 5% (up to25%*) >12 Months Up to 35% (up to15%*) Up to 30% - - 10% 24-36 months 15% Up to 30% 25Up to 5% 20% - 10% More than 36 months 10% 20% 20% 25% 15% 10% DocuSign Envelope ID: 4CFF4CE7-0C42-45B4-BD51-4F094135CB18 (up to25%*) *Where the project promoter is a private entity. The first advance payment 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, if any, payment of a percentage of the total grant amount shall be paid within 15 working days 1 month from the submission of a request or within the period set in after signature of 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 1 month. The approval of project interim and final reports shall take place within three 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. In case of euro-denominated contracts with entities from Donor States or with intergovernmental organizations, the Programme Operator shall transfer the amounts in euro.