Common use of Project contract Clause in Contracts

Project contract. ‌ 1. For each approved project a project contract shall be concluded between the Fund Operator and the project promoter. 2. The project contract sets out the terms and conditions of grant assistance as well as the roles and responsibilities of the parties. It shall include provisions that ensure that the project promoter takes on any obligations that are necessary for the Fund Operator to comply with its obligations under this Agreement. The project contract shall contain, as a minimum, provisions on the following: a) obligations regarding reporting that enable the Fund Operator to comply with its reporting obligations to the FMO and the National Focal Point; b) the maximum amount of the project grant in euro and the maximum project grant rate; c) the list of eligible expenditures; d) the method of calculating indirect costs and their maximum amount; e) the first and final dates of eligibility of expenditures; f) requirements for the submission of proof of expenditure according to Article 8.2; g) provision on modifications of the project; h) provisions that ensure timely access for the purposes of monitoring, audits and evaluations; i) provisions that ensure that obligations regarding information and communication as described in Chapter 3 are complied with; j) the right of the Fund Operator to suspend payments, make financial corrections and request reimbursement from the project promoter in case decision on such actions is taken by the FMO and/or the Fund Operator; k) resolution of disputes and jurisdiction; l) waiver of responsibility referred to in Article 14.3; m) a detailed budget; n) provisions on equipment for which the entire purchase price is eligible, in compliance with Articles 4.2.1 and 4.2.2; o) provisions giving effect to Article 14.7.5(c) in case of termination of this Agreement;