|
Payment No. |
When? |
Payment Calculation |
Conditions |
|
Payment 1 |
Grant Starting Date |
Payment Date |
50% of 1st research year budget
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IF budget includes Non-Expendable Equipment: Full equipment budget + 50% of remaining 1st research year budget |
Receipt and approval of all Grant documents including the signed Research Grant Agreement |
January |
During the month before the Grant starting date |
April |
During the month of the Grant starting date |
July |
October |
Payment 2 |
Time line: After 6 months from starting date |
40% of 1st research year budget
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IF budget includes Non-Expendable Equipment: 40% of 1st research year budget excluding equipment (see payment 1) |
|
Grant Starting Date |
Payment Date |
January |
July |
April |
October |
July |
January (following calendar year ) |
October |
April (following calendar year ) |
|
Payment 3 |
Time line: After 16 months from starting date |
10% of 1st research year budget +50% of 2nd research year budget
--------------------------------------
IF budget includes Non-Expendable Equipment: 10% of 1st research year budget excluding equipment (see payment 1) +50% of 2nd research year budget |
2. 1st research year financial report with expenses ≥75% of 1st research year budget.*
*In case of budget spending of < 75%, Payment 3 will be sent upon request. |
Grant Starting Date |
Payment Date |
January |
April |
April |
July |
July |
October |
October |
January (following calendar year ) |
Payment 4 |
Time line: After 19 months from starting date |
40% of 2nd research year budget |
1. All conditions for payment 3 fulfilled (see above)
|
Grant Starting Date |
Payment Date |
January |
July |
April |
October |
July |
January (following calendar year ) |
October |
April (following calendar year ) |
|
Payment 5 |
Time line: After 27 months from starting date |
10% of 2nd research year budget +50% of 3rd research year budget
|
2. 2nd research year financial report with expenses ≥75% of 2nd research year budget *
*In case of budget spending of < 75%, Payment 5 will be sent upon request. |
Grant Starting Date |
Payment Date |
January |
April |
April |
July |
July |
October |
October |
January (following calendar year ) |
Payment 6 |
Time line: After 30 months from starting date |
30% of 3rd research year budget |
1. All conditions for payment 5 fulfilled (see above)
|
Grant Starting Date |
Payment Date |
January |
July |
April |
October |
July |
January (following calendar year ) |
October |
April (following calendar year ) |
|
Payment 7
(Final Payment) |
Time line: after 39 months from starting date OR 3 months after end of the No Cost Extension. |
20% of 3rd research year budget
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The payment will be calculated to balance the actual expenditures approved after the final financial report. The total budget cannot be exceeded. |
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· The payment will be transferred only if the total amount of previous payments is less than the total approved expenses.
· In case the previously transferred amount is higher than the approved expenses, GIF will request reimbursement of the surplus funds. |
Grant Starting Date |
Payment Date |
January |
April |
April |
July |
July |
October |
October |
January (following calendar year ) |
|
Grantees have the option to request the 7th (final) payment prior to the scheduled date by submitting the “Request for Advance Final Payment” form (available for download here). From a last payment sent in advance, the amount of EUR 1,000 will be retained until all conditions for Payment 7 are fulfilled. |