Common use of Payments to be made Clause in Contracts

Payments to be made. The NA must make the following payments to the coordinator: - a first pre-financing payment; - [NA to select if a further pre-financing payment is foreseen] (a) further pre-financing payment(s), on the basis of the request for further pre-financing payment referred to in Article I.4.3; - one payment of the balance, on the basis of the request for payment of the balance referred to in Article I.4.4. 2 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%; in the case of Key Action 1 in Higher Education, the balance payment will be normally replaced by a further pre- financing based on an interim report. However, in case of lack of sufficient payment appropriations, the NA may: a) reduce the first pre-financing to a percentage between 60 and 80% and apply a balance payment of 40-20% of the maximum grant amount, or b) split the first pre-financing into two payments without interim report, whereby the total of both payments amounts to 80% of the maximum grant amount, and a balance payment of 20% of the maximum grant amount.

Payments to be made. The NA must make the following payments to the coordinator: - a first pre-financing payment; - [NA to select if a further pre-financing payment is foreseen] (a) further pre-financing payment(s), on the basis of the request for further pre-financing payment referred to in Article I.4.3; - one payment of the balance, on the basis of the request for payment of the balance referred to in Article I.4.4. . 2 1. Normal payment schedule for grant agreements of maximum two years included: normally one pre-financing payment of 80% and a balance payment of 20%; in the case of Key Action 1 in Higher Education, the balance payment will be normally replaced by a further pre- financing based on an interim report. However, in case of lack of sufficient payment appropriations, the NA may: a) reduce the first pre-financing to a percentage between 60 and 80% and apply a balance payment of 40-20% of the maximum grant amount, or b) split the first pre-financing into two payments without interim report, whereby the total of both payments amounts to 80% of the maximum grant amount, and a balance payment of 20% of the maximum grant amount. Normal payment schedule for grant agreements of more than two years: one pre-financing of 40% upon signature of the agreement, one further pre-financing of 40% based on an interim report and a balance payment of 20% of the maximum grant amount.