Common use of Recovery at payment of the balance Clause in Contracts

Recovery at payment of the balance. If the payment of the balance takes the form of a recovery (see Article 17.4), the Agency will formally notify a ‘pre-information letter’ to the coordinator: - informing it of its intention to recover, the amount due as the balance and the reasons why and - inviting the coordinator to submit observations within 30 days of receiving notification. If no observations are submitted or the Agency decides to pursue recovery despite the observations it has received, it will confirm the amount to be recovered and formally notify to the coordinator a debit note with the terms and the date for payment (together with the notification of amounts due; see Article 17.5). If payment is not made by the date specified in the debit note, the Agency or the Commission will (a) by ‘offsetting’ it — without the coordinator’s consent — against any amounts owed to the coordinator by the Agency, Commission or another executive agency (from the EU or Euratom budget). In exceptional circumstances, to safeguard the EU’s financial interests, the Agency may offset before the payment date specified in the debit note; (b) not applicable; (c) by holding the other partners jointly and severally liable — up to the maximum EU contribution indicated, for each partner, in the estimated budget (as last amended; see Annex 2); (d) by taking legal action (see Article 55 FPA) or by adopting an enforceable decision under Article 79(2) of the Financial Regulation No 966/2012 and Article 299 of the Treaty on the Functioning of the EU (TFEU). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 17.11, from the day following the payment date in the debit note, up to and including the date the Agency or the Commission receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the partner, unless Directive 2007/64/EC applies.

Recovery at payment of the balance. If the payment of the balance takes the form of a recovery (see Article 17.4), the Agency will formally notify a ‘pre-information letter’ to the coordinator: - informing it of its intention to recover, the amount due as the balance and the reasons why and - inviting the coordinator to submit observations within 30 days of receiving notification. If no observations are submitted or the Agency decides to pursue recovery despite the observations it has received, it will confirm the amount to be recovered and formally notify to the coordinator a debit note with the terms and the date for payment (together with the notification of amounts due; see Article 17.5). If payment is not made by the date specified in the debit note, the Agency or the Commission will (a) by ‘offsetting’ it — without the coordinator’s consent — against any amounts owed to the coordinator by the Agency, Commission or another executive agency (from the EU or Euratom budget). In exceptional circumstances, to safeguard the EU’s financial interests, the Agency may offset before the payment date specified in the debit note; (b) not applicableby drawing on the financial guarantee (see Article 17.2); (c) by holding the other partners jointly and severally liable — up to the maximum EU contribution indicated, for each partner, grant amount set out in the estimated budget (as last amended; see Annex 2)Article 4.1; (d) by taking legal action (see Article 55 FPA) or by adopting an enforceable decision under Article 79(2) of the Financial Regulation No 966/2012 and Article 299 of the Treaty on the Functioning of the EU (TFEU). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 17.11, from the day following the payment date in the debit note, up to and including the date the Agency or the Commission receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the partner, unless Directive 2007/64/EC applies.