Common use of Financing and payment Clause in Contracts

Financing and payment. 3.1 The complete budget for the entire Research Project, including the distribution of funds between the Parties, is stipulated in Appendix 3 (the ‘Budget’). Terms for all relevant payments are also stated in Appendix 3. (Note that payments for work performed must be made regularly. It is recommended that the payment periods be set to a maximum of three-month intervals, unless determined otherwise by the payment profile of the granting authority in case the Research Project is based on funding from a Third Party)

Financing and payment. 3.1 The complete budget for the entire Research Project, including the distribution of funds between the Parties, is stipulated in Appendix 3 (the ‘Budget’). Terms for all relevant payments are also stated in Appendix 3. (Note that payments for work performed must be made regularly. It is recommended that the payment periods be set to a maximum of three-month intervals, unless determined otherwise by the payment profile of the granting authority in case the Research Project is based on funding from a Third Party).