Final payment

In this section:

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.

The Grant Beneficiary accepts that the grant can under no circumstances result in a profit and that it must 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.
  • In the case of an operating grant, a surplus balance on the operating budget of the Grant Beneficiary.

These provisions do not apply to study, research or training scholarships paid to natural persons, nor in the case of prizes awarded following contests. In addition the Contracting Authority may - if the Action is not being implemented or is implemented poorly, partially or late - reduce the grant initially provided for in line with the actual implementation of the Action.

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