Common use of Payments to Parties Clause in Contracts

Payments to Parties. Payments to Parties are the exclusive tasks of the Coordinator. ln particular, the Coordinator shall: • Notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references, • Perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts, • Undertake to keep the Community financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to national legislation. ,, Payment schedule

Payments to Parties. Payments to Parties are the exclusive tasks of the Coordinator. ln In particular, the Coordinator shall: • Notify  notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references, • Perform ;  perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts, • Undertake ;  undertake to keep the Community financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to national statutory legislation. ,, Payment schedule.