Common use of Budget Execution Clause in Contracts

Budget Execution. In all cases the Operator is empowered to make all operation expenses and investments required by the Joint Operation according to approved Budget not to exceed ten percent (10%) appropriations assigned to each expense group and to each project during the respective budget term (Contract Clause 11, section 11.5). Budget execution will be the responsibility of the different Operator units subject to previously determined execution schedule. Appropriations assigned each project will be identified using a previously defined code to be used in all documents associated to Budget Execution procedures.

Budget Execution. In all cases the Operator is empowered to make all operation expenses and investments required by the Joint Operation according to approved aproved Budget not to exceed ten percent (10%) appropriations assigned to each expense group and to each project during the respective budget term (Contract Clause 11, section 11.5). Budget execution will be the responsibility of the different Operator units subject to previously determined execution schedule. Appropriations assigned each project will be identified using a previously defined code to be used in all documents associated to Budget Execution procedures.