Finance management in JTIs
While funding rates and rules of participation are quite different in each of the Joint Technology Initiatives, the eligibility of project costs is determined by the general FP7 financial rules.
This means that eligible project costs of a Joint Undertaking Collaborative Project have to be
- incurred during the lifetime of the respective project,
- actual and economic
- necessary for the enforcement of the project
Eligible costs may neither contain indirect taxes (e.g. value added tax), duties, interest owed or exchange losses.
Furthermore, like in all other parts of FP7, the principles of non-profit and co-financing apply:
This means that JTIs (in ENIAC and ARTEMIS additionally the Member States) finance just a certain percentage of the entire project costs (see funding rates of each technology initiative), which should not give rise to profit for the participants.