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4. Use of contingencies

The fourth sheet of the annex B (the Budget) is the separate template on the use of contingencies.

As per art. 14.3 of the General Conditions foresees the eligibility of a contingency reserve not exceeding 5% of the total costs of the Action excluding taxes to be used in case of unforeseen events (mainly force majeure) and with prior authorisation of the Contracting Authority.

Any applicant can prepare the budget of the Action by including the contingency reserve and make use of it if sudden conditions require it.

The contingency reserve cannot be used to solve financial mismanagement: any budgetary change modifying substantially the initial rider should be duly treated as explained in the section Dealing with changes.

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