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Contracts & Finance

Contracts & Finance. Contracts. A) Grant Agreement / between EC and VITO / relevant for all partners B) Consortium Agreement / between partners / relevant for EC C) Subcontracts / when foreseen in the proposal /GA Framework contracts

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Contracts & Finance

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  1. Contracts & Finance

  2. Contracts A) GrantAgreement / betweenEC and VITO / relevant for all partners B) Consortium Agreement / between partners / relevant for EC C) Subcontracts / whenforeseen in the proposal/GA Frameworkcontracts Subcontractingcosts are direct costs (Form C)

  3. Cost Models In FP7 only FC model

  4. Cost Models • Direct Costs • PersonnelCosts • Employees • In-houseconsultants • Thirdparties (art II.14.2 of the ECGA) • Travel • Durableequipment • Consumables

  5. Cost Models • Indirect Costs • Actual Overhead • SimplifiedMethod • Flat rate of 20% of direct eligiblecosts, minus subco and costs of resources from 3rd parties • Flat rate of 60% (furfundingschemeswith RTD) • For CSA* schemes : max 7% of direct eligiblecosts * Coordination and support Action

  6. Cost Models • EligibleCosts • Actual, exceptwhennot (yet) available (e.g. realpersonnelcost) • Incurredduring the project, exceptcostsforfinalreporting + certificates, depreciation,… • Incurredby the beneficiary • In accordancewith the beneficiary’susual accounting and management principles (identifiable and verifiable!) • Recorded in the accounts of the beneficiary (orthirdparties) • Usedfor the solepurpose of achieving the objectives of the project • Airporttaxes

  7. Cost Models • NON-eligiblecosts • Identifiabletaxes (eg VAT) • Exchange losses • Costsincurred BEFORE the official start of the meetng • Intrest owed

  8. FundingRates FP7 * higherratesfor non-profit public bodies, secondaryand highereducationestablishments, research organisations and SME’s

  9. Reporting and Financing • Pre-financing • Upon signature of the GA byCoordinator • To the coordinator, to bedistributedUpon signature of the GA by most partners • Typicallybetween 60-80% of total budget (160% of 1 reportingperiod) • 5% of EC totalcontributiongoes to the GuaranteeFund the moment the pre-financing is paid • EC will keep a minimum of 10% of the totalcontributiontill the finalpayment • The prefinancingwillremain the property of the EU until the finalpayment

  10. Reporting and Financing • Certificates • Certificateson the Financial Statements (CFS) • Externalaudit-reportbyqualified auditor • Onlywhentreshold of 375.000,-€ has been reached (umulative over the periods! Aftersubmitting a CFS, the count starts again at 0) • Certificateon the methodology • Certificateon average personnelcosts

  11. Reporting and Financing • FORM C in FORCE (NEF) • Select the period • Separate Formsforadjustmentspreviousperiods • Submit to Coordinator • Coordinator submits to EC • EC removes DRAFT and sends mail to coordinator • Coordinatorinforms partners, FormCcanbeprinted, signed and send to coordinator

  12. Reporting and Financing • Conversionrates • Ratesfrom the date of the actualcostsincurred OR • Rateappliedon the firstday of the monthfollowing the end of the reportingperiod • http://www.ecb.int/stats/eurofxref

  13. Contact Ria De Breucker Coordinator Project Office TAP + 32 14 33 68 35 Ria.debreucker@vito.be Link to FORCE (NEF) http://ec.europa.eu/research/participants/portal/appmanager/participants/portal

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