Fund Requests. 1. UN Women shall provide the Partner with funds for the Work, subject to the availability of funds and the terms of this Agreement. UN Women’s funding to the Partner shall not exceed the total amount of [fill currency and total amount] as set forth in the Partner Project Document. UN Women shall provide such funding to the Partner utilizing, at its discretion, any of the following three fund transfer modalities: (a) Cash advance by UN Women to the Partner; (b) Reimbursement by UN Women to the Partner; and, (c) Direct payment by UN Women on the Partner’s behalf to the Partner’s vendor or supplier. 2. The fund transfers shall be made in installments as set forth in the Partner Project Document or more frequently if the criteria set forth in this Agreement have been satisfied. Each fund transfer shall be made utilizing the fund transfer modality decided solely by UN Women. The fund transfers shall be made in the currency used in the country where the Work is taking place. 3. Any request for a fund transfer by the Partner shall fulfill the following criteria to the satisfaction of UN Women, failing which UN Women may decide not to honor the request in whole or in part: (a) The Partner may submit funding requests, using the FACE Form, every three months during the term of the Agreement or more frequently provided that the Work relevant for those months has been completed and the corresponding funds expended, and the relevant criteria in the Agreement are satisfied. (b) The FACE Form shall be signed by a Partner Authorized Officer. (c) The request for fund transfer shall be accompanied by the financial and progress reporting as provided in Article VIII. (d) The amount and purpose of the request shall be consistent with the provisions of this Agreement. (e) The request shall be reasonable and justified under principles of sound financial management, in particular the principles of value for money and cost-effectiveness. (f) Prior fund transfers shall have been reported on to UN Women’s satisfaction in accordance with Article VIII. (g) At least 80% or more of the expenditure relating to the immediately preceding fund transfer and 100% of the expenditure relating to all previous fund transfers, if any, have been reported to the satisfaction of UN Women. If the fund transfer request is made more frequently than every three months, all Work relevant for those months has been completed and all corresponding funds expended. (h) There shall be no other grounds for believing the expenditure is in contravention of this Agreement, including the Partner Project Document. 4. Requests for cash advances: (a) The Partner may submit funding requests for cash advances, using the FACE Form, every three months during the term of the Agreement except as set forth in sections (b) and (c) below. (b) The Partner may submit the first funding request for a cash advance as soon as both Parties have signed this Agreement. (c) The Partner may submit requests more frequently than every three months in accordance with section 3 above. 5. Requests for direct payment transfers: (a) The Partner may submit to UN Women a written request for direct payment to the Partner’s vendor or supplier. (b) The request for direct payment must be submitted no later than the three-month period following receipt of the goods or services. (c) The request for direct payment shall in all cases include the vendor or supplier’s banking information, the original invoice or invoices issued by the vendor or supplier to the Partner, the purchase order, the quotation and a written statement by the Partner Authorized Officer certifying that the vendor or supplier delivered the goods and/or performed the services satisfactorily and in accordance with the terms of the contract between the Partner and the vendor or supplier. 6. Requests for reimbursements: (a) Any expenditure by the Partner from its own resources in respect of which the Partner intends to request a reimbursement under this Agreement, shall be subject to prior funding authorization by UN Women. To obtain funding authorization of the Partner’s expenditures that will be subject to reimbursement, the Partner shall submit to UN Women a funding authorization request for reimbursement in a form and format as decided by UN Women. This funding authorization request may not exceed the relevant amount set forth in the Partner Project Document and shall be duly signed by a Partner Authorized Officer. If the funding authorization request for reimbursement is in proper form and complete and all the requirements in this Agreement are met, UN Women will determine the amount to be authorized for funding and will authorize that amount by written reply to the Partner. (b) Subject to prior authorization under section 6 (a) above, the Partner may submit to UN Women a written request for a reimbursement further to section 3 above. The request for reimbursement shall be submitted in connection with satisfactory financial and proper progress reporting (see Article VIII). 7. Revision of budget by Partner: The Partner may, without UN Women’s approval but with prior written notice to UN Women, revise the budget by re-allocating funds either within an activity or between activities identified by account codes on the FACE Form, as long as the re-allocation is not (i) exceeding twenty percent (20%) of the total budgeted amount; (ii) negatively impacting the Results; or, (iii) increasing the total budgeted amount. Any other revisions of the budget require an amendment to this Agreement. 8. Payment of fund transfers by UN Women: (a) If each request for fund transfer is received in a timely fashion and is in proper form and complete and all the requirements in this Agreement have been met, UN Women will determine the amount to be transferred and will transfer that amount to the Partner, or if the direct payment modality is used, on behalf of the Partner, within reasonable time. (b) UN Women may decide to adjust the amount of any fund transfer where it has reason to do so, including: i. To take into consideration the general progress made to the Work to date; ii. To take into consideration any unspent or unsatisfactorily reported balance remaining with the Partner from any previous fund transfer or any amounts paid by UN Women as direct payment, reimbursement or otherwise, lost by the Partner or used by the Partner other than in accordance with this Agreement, including any amounts shown by audits, site/field visits, spot checks or investigations to have been so paid, lost or used; iii. To take into consideration any expenditure that is ineligible in accordance with this Agreement; iv. To take into consideration interest or income earned by the Partner from a previous fund transfer; and, v. To withhold up to 10% of the total budgeted amount for the Work for risk management purposes. (c) UN Women is only required to transfer to or (where the direct payment modality is used) on behalf of the Partner, the amount UN Women determines is due under the terms of this Agreement. UN Women shall not be liable to the Partner or any third party, including the Partner’s vendor or supplier, for any amounts that UN Women determines are not owing under this Agreement. (d) The fund transfers other than direct payments shall be made by UN Women to the following bank account: Bank name: [ ] Bank address: [ ] Account title: [ ] Account No.: [ ] Bank contact person: [ ]
Appears in 2 contracts
Sources: Partner Agreement, Partner Agreement
Fund Requests. 1. UN Women shall provide the Partner with funds for the Work, subject to the availability of funds and the terms of this Agreement. UN Women’s funding to the Partner shall not exceed the total amount of [fill currency and total amount] MDL 3,569,934.85 as set forth in the Partner Project Document. UN Women shall provide such funding to the Partner utilizing, at its discretion, any of the following three fund transfer modalities:
(a) Cash advance by UN Women to the Partner;
(b) Reimbursement by UN Women to the Partner; and,
(c) Direct payment by UN Women on the Partner’s behalf to the Partner’s vendor or supplier.
2. The fund transfers shall be made in installments as set forth in the Partner Project Document or more frequently if the criteria set forth in this Agreement have been satisfied. Each fund transfer shall be made utilizing the fund transfer modality decided solely by UN Women. The fund transfers shall be made in the currency used in the country where the Work is taking place.
3. Any request for a fund transfer by the Partner shall fulfill the following criteria to the satisfaction of UN Women, failing which UN Women may decide not to honor the request in whole or in part:
(a) The Partner may submit funding requests, using the FACE Form, every three months during the term of the Agreement or more frequently provided that the Work relevant for those months has been completed and the corresponding funds expended, and the relevant criteria in the Agreement are satisfied.
(b) The FACE Form shall be signed by a Partner Authorized Officer.
(c) The request for fund transfer shall be accompanied by the financial and progress reporting as provided in Article VIII.
(d) The amount and purpose of the request shall be consistent with the provisions of this Agreement.
(e) The request shall be reasonable and justified under principles of sound financial management, in particular the principles of value for money and cost-effectiveness.
(f) Prior fund transfers shall have been reported on to UN Women’s satisfaction in accordance with Article VIII.
(g) At least 80% or more of the expenditure relating to the immediately preceding fund transfer and 100% of the expenditure relating to all previous fund transfers, if any, have been reported to the satisfaction of UN Women. If the fund transfer request is made more frequently than every three months, all Work relevant for those months has been completed and all corresponding funds expended.
(h) There shall be no other grounds for believing the expenditure is in contravention of this Agreement, including the Partner Project Document.
4. Requests for cash advances:
(a) The Partner may submit funding requests for cash advances, using the FACE Form, every three months during the term of the Agreement except as set forth in sections (b) and (c) below.
(b) The Partner may submit the first funding request for a cash advance as soon as both Parties have signed this Agreement.
(c) The Partner may submit requests more frequently than every three months in accordance with section 3 above.
5. Requests for direct payment transfers:
(a) The Partner may submit to UN Women a written request for direct payment to the Partner’s vendor or supplier.
(b) The request for direct payment must be submitted no later than the three-month period following receipt of the goods or services.
(c) The request for direct payment shall in all cases include the vendor or supplier’s banking information, the original invoice or invoices issued by the vendor or supplier to the Partner, the purchase order, the quotation and a written statement by the Partner Authorized Officer certifying that the vendor or supplier delivered the goods and/or performed the services satisfactorily and in accordance with the terms of the contract between the Partner and the vendor or supplier.
6. Requests for reimbursements:
(a) Any expenditure by the Partner from its own resources in respect of which the Partner intends to request a reimbursement under this Agreement, shall be subject to prior funding authorization by UN Women. To obtain funding authorization of the Partner’s expenditures that will be subject to reimbursement, the Partner shall submit to UN Women a funding authorization request for reimbursement in a form and format as decided by UN Women. This funding authorization request may not exceed the relevant amount set forth in the Partner Project Document and shall be duly signed by a Partner Authorized Officer. If the funding authorization request for reimbursement is in proper form and complete and all the requirements in this Agreement are met, UN Women will determine the amount to be authorized for funding and will authorize that amount by written reply to the Partner.
(b) Subject to prior authorization under section 6 (a) above, the Partner may submit to UN Women a written request for a reimbursement further to section 3 above. The request for reimbursement shall be submitted in connection with satisfactory financial and proper progress reporting (see Article VIII).
7. Revision of budget by Partner: The Partner may, without UN Women’s approval but with prior written notice to UN Women, revise the budget by re-allocating funds either within an activity or between activities identified by account codes on the FACE Form, as long as the re-allocation is not (i) exceeding twenty percent (20%) of the total budgeted amount; (ii) negatively impacting the Results; or, (iii) increasing the total budgeted amount. Any other revisions of the budget require an amendment to this Agreement.
8. Payment of fund transfers by UN Women:
(a) If each request for fund transfer is received in a timely fashion and is in proper form and complete and all the requirements in this Agreement have been met, UN Women will determine the amount to be transferred and will transfer that amount to the Partner, or if the direct payment modality is used, on behalf of the Partner, within reasonable time.
(b) UN Women may decide to adjust the amount of any fund transfer where it has reason to do so, including:
i. To take into consideration the general progress made to the Work to date;
ii. To take into consideration any unspent or unsatisfactorily reported balance remaining with the Partner from any previous fund transfer or any amounts paid by UN Women as direct payment, reimbursement or otherwise, lost by the Partner or used by the Partner other than in accordance with this Agreement, including any amounts shown by audits, site/field visits, spot checks or investigations to have been so paid, lost or used;
iii. To take into consideration any expenditure that is ineligible in accordance with this Agreement;
iv. To take into consideration interest or income earned by the Partner from a previous fund transfer; and,
v. To withhold up to 10% of the total budgeted amount for the Work for risk management purposes.
(c) UN Women is only required to transfer to or (or, where the direct payment modality is used) , on behalf of the Partner, Partner the amount UN Women determines is due under the terms of this Agreement. UN Women shall not be liable to the Partner or any third party, including the Partner’s vendor or supplier, for any amounts that UN Women determines are not owing under this Agreement.
(d) The fund transfers other than direct payments shall be made by UN Women to the following bank account: Bank name: [ ] BC Victoriabank SA Bank address: [ ] ▇▇▇▇▇▇▇▇▇▇▇ Account title: [ ] IC "La Strada" Account No.: [ ] MD48VI000002251603868M Bank contact person: [ ]N/A
1. The Partner shall administer the funds and carry out the Work under its own financial regulations, rules and procedures to the extent that they are determined to be appropriate by UN Women. Where UN Women determines that the Partner’s financial regulations, rules, policies and procedures are not appropriate, UN Women shall give written notice to the Partner. In such cases, UN Women may decide, inter alia, to implement the Work or any parts thereof, including procurement activities, directly or transfer the implementation thereof to another partner.
2. Where the Partner buys goods or services from the funds, the Partner shall do so giving due consideration to the following principles:
(a) Best value for money;
(b) Fairness, integrity and transparency; and,
Appears in 1 contract
Sources: Partner Agreement