3.16 Which are the rules concerning the payments to projects? Published 2011/06/16

The payments to projects follow the rules set by Article 15 “Payment and interest on late payment” of Annex II “General Conditions”.
Option 2 mentioned by the said article shall apply as far as the payments are concerned. In particular, all payments to projects will follow the calendar established by the JMA and the Beneficiary in the Special Conditions. For the first pre-financing the JMA can advance up to 80% of the Programme contribution foreseen for the first year. In any case the total sum of pre-financing under the Contract may not exceed 90% of the amount referred to in Article 3.2 of the Special Conditions (i.e the Programme contribution).
According to article 4.3 of the Special Conditions, the first pre-financing is transferred to the Beneficiary by the JMA within 45 days from the signature of the Grant Contract, provided that the Beneficiary has communicated to the JMA the name of external auditor that will perform the expenditure verification (see also article 5.2 of the Special Conditions).
Finally, according to the Joint Operational Programme, the Beneficiary is provided with 30 calendar days to transfer the respective financing to its partners. Further payments will be made according to options 1 or 2 defined in the Special Conditions (article 4) and will be based on the level of certified expenditures of the Beneficiary and each partner and the forecast expenditures foreseen for the following year (see also article 15 of the General Conditions).