Final payment
In this section:
The total amount to be paid by the European Commission to the partner may not exceed the maximum grant 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 Action are less than the estimated total cost as mentioned above, the European Commission's contribution shall be limited to the amount obtained by applying the percentage laid down in Article 3.2 of the Special Conditions to the total costs of the Action approved by the European Commission.
The partner accepts that the grant can under no circumstances result in a profit for itself and that it ust be limited to the amount required to balance income and expenditure for the Action. Profit shall be defined as:
- In the case of a grant for an Action, a surplus of actual receipts over the actual costs of the Action in question when the request is made for payment of the balance. However, in the case of Actions designed specifically to strengthen the financial capacity of the Beneficiary, it is distribution to the members making up the beneficiary body of the surplus revenue resulting from its activity leading to their personal enrichment.
- In the case of an operating grant, a surplus balance on the operating budget of the Beneficiary. These provisions shall not apply to study, research or training scholarships paid to natural persons, nor in the case of prizes awarded following contests.
In addition the European Commission may, by a duly reasoned decision, if the Action is not implemented or is implemented poorly, partially or late, reduce the grant initially provided for in line with the actual implementation of the Action.
To sum up:
Sources and useful links:
- General conditions, Article 17.