Common use of FINAL SETTLEMENTS Clause in Contracts

FINAL SETTLEMENTS. MAC, approved by the Contractor - Invoice(s); - Receipt and/or acceptance, by the Agency, of all deliverable items, of the services to be rendered and other obligations to be fulfilled, in accordance with the terms of this Contract or under a Phase ( in case the Agency decides not to proceed further with the following Phase), in particular, with the provisions of Article 4 (Places and Dates of Delivery), Article 8, Clause 29 (Acceptance and Rejection), but apart from Article 8, Clause 30 (Guarantees) and continuing obligations under Part II of the GCC; - On behalf of the full industrial consortium: a list recapitulating all Intellectual Property Rights resulting from work undertaken within the scope of the Contract and which are suitable for registration in the meaning of Clause 40 of the GCC which are registered, intended for registration or not intended for registration; or, a formal statement that no Intellectual Property Right(s) suitable for registration in the above meaning has(ve) been generated, or is/are intended to be registered, using the template provided in Appendix 5 hereto. The term “invention” in Sub-Clause 21.1 of the GCC shall be construed as making reference to the definition of “Intellectual Property Rights” in Clause 36.2 of the GCC; - List of fixed assets acquired during the contract execution. The Agency shall pay the Sub-Contractor(s) directly upon presentation by the Contractor of the Sub-Contractor(‘s)(s’) invoices, in accordance with Clause 22 hereafter, with the certification of the Contractor thereon that the stage for which the payment is required has been satisfactorily completed. The Agency and TASF reserve the right to visit the Contractor’s and Sub-Contractor(‘s)(s’) premises and ascertain the progress of the work being performed under the Contract, prior to making the progress payment concerned. The Payment Plan and other financial conditions applicable to this Contract are specified in Appendix 1 hereto. If applicable, invoices shall separately show all due taxes or duties on a separate page. The period for payment shall begin on the date of receipt of all documents, and of fulfilment of the requirements referred to in paragraphs 1.2 to 1.4 above, at ESTEC Financial Operations. As regards the term “invention” in clause 21.1 of the GCC, it shall be construed as making reference to the definition of “Registered Intellectual Property Rights” in Sub-Clause 36.2 of the GCC. In the event that the achievement of a Milestone is delayed but the milestone is partially met at the Milestone planning date foreseen, the Agency may exceptionally effect a payment against an approved MAC of the partially achieved milestone, not exceeding the value of the work performed at the date of payment.

FINAL SETTLEMENTS. MAC, approved The final settlement shall be made by the Agency/ASG for the purposes of Clause 21 of the General Conditions after that the Contractor - has discharged his obligations under this Contract and subject to (a) the Contractor providing: i. Invoice(s); - ; ii. Submitted Milestone Achievement Confirmation (MAC); iii. Copies of supporting documents that may be required by the Agency as evidence of satisfactory contractual performance; iv. Receipt and/or acceptance, by the Agency, of all deliverable items, of the services to be rendered and other obligations to be fulfilled, in accordance with the terms of this Contract or under a Phase ( in case the Agency decides not to proceed further with the following Phase)Contract, in particular, with the provisions of Article 4 (Places Acceptance and Dates of DeliveryDelivery Requirements…), Article 8, Clause 29 (Acceptance and Rejection), but apart from Article 8, Clause 30 (Guarantees) and continuing obligations under Part II of the GCC; - ; v. A final close-out report, Appendix F hereto. Such report shall include all CCNs and no-claims statement, as well as all vi-x elements mentioned below, and shall be signed by both parties to the Contract, in order to finally close out the contract. 1 As a result of a financial management reform, ESA has introduced a new supplier portal for ESA’s contractual partners. This portal – esa-p – did not in its roll-out phase include a possibility to invoice an advance payment electronically and paper invoices were submitted. This has now been rectified and the Contractor -under direct ESA payment- shall submit all contract advance payment requests by creating an APR in esa-p. vi. On behalf of the full industrial consortium: a list recapitulating all Intellectual Property Rights resulting from work undertaken within the scope of the Contract and which are suitable for registration in the meaning of Clause 40 of the GCC which are registered, intended for registration or not intended for registration; or, a formal statement that no Intellectual Property Right(s) suitable for registration in the above meaning has(ve) been generated, or is/are intended to be registered, using the a template provided included in Appendix 5 F hereto. The term “invention” in Sub-Clause 21.1 of the GCC shall be construed as making reference to the definition of “Intellectual Property Rights” in Clause 36.2 of the GCC; - List of fixed assets acquired during the contract execution. The Agency shall pay the Sub-Contractor(s) directly upon presentation by the Contractor of the Sub-Contractor(‘s)(s’) invoices, in accordance with Clause 22 hereafter, with the certification of the Contractor thereon that the stage for which the payment is required has been satisfactorily completed. The Agency and TASF reserve the right to visit the Contractor’s and Sub-Contractor(‘s)(s’) premises and ascertain the progress of the work being performed under the Contract, prior to making the progress payment concerned. The Payment Plan and other financial conditions applicable to this Contract are specified in Appendix 1 hereto. If applicable, invoices shall separately show all due taxes or duties on a separate page. The period for payment shall begin on the date of receipt of all documents, and of fulfilment of the requirements referred to in paragraphs 1.2 to 1.4 above, at ESTEC Financial Operations. As regards the term “invention” in clause 21.1 of the GCC, it shall be construed as making reference to the definition of “Registered Intellectual Property Rights” in Sub-Clause 36.2 of the GCC. vii. In On behalf of his industrial consortium, a list of inventory items purchased by the event that Contractor for the achievement purpose of a Milestone is delayed but this Contract, and inventoried in accordance with the milestone is partially met at the Milestone planning date foreseen, the Agency may exceptionally effect a payment against an approved MAC provisions of Article 9 of the partially achieved milestonepresent Contract, not exceeding complying with the value requirements set forth in Appendix C hereto; viii. List of Fixed Assets acquired during the contract execution; ix. A statement of Sub-Contractor’s penalties applications; x. An end of project assessment report of the work performed at lessons learnt. The above provision applies without prejudice to the date application of paymentArticle 6.