Final payment

The total amount to be paid by the Contracting Authority to the partner may not exceed the maximum amount laid down in Article 3.2 of the Special Conditions of the Action neither in terms of absolute amount nor in percentage of the total estimated costs of the Action.
If the total costs at the end of the implementation period are less than the estimated total costs as mentioned above, the EC contribution shall be limited to the amount obtained by applying the percentage laid down in Article 3.2 of the Special Conditions to the effective total costs of the Action reported in the final financial report and approved by the Contracting Authority(art. 15 – General Conditions).

The Grant Beneficiary accepts that the grant may not produce a profit for the Beneficiary(ies) unless specified otherwise in art. 7 of the Special Conditions. Profit is defined as a surplus of the receipts over the eligible costs approved by the Contracting Authority when the request for payment of the balance is made.

The principle is not applicable in actions aimed at reinforcing the financial capacity of a Beneficiary, or which generate an income to ensure their continuity beyond the duration of the Contract, in case of studies, research or training scolarships paid to natural persons, grants of 60,000 euro or less: any of these cases, however, must be specified in art. 7 of the Special Conditions.

Resources and useful links:
General Conditions(Annex II)
Special Conditions

ATTENTION! The information included in this website refer to the rules of the PRAG 2014. The website is currently under revision to be aligned to the 2016 PRAG.