The purpose of the pre-financing is to guarantee a positive cash-flow during the project. The coordinator receives the pre-financing from the Commission within 30 days after the conclusion of the Grant Agreement (GA).
The pre-financing rate is stipulated in article 6 of the GA.
Generally the pre-financing amounts to
- 160% of the average EU funding per period for projects with a duration of more than two reporting periods
- 60% - 80% of the total EC contribution for projects with one or two reporting periods
The pre-financing may vary depending on the amount of investments made in the beginning of the project.
Interim and Final payments
The amount of the interim payments will be calculated on the basis of the accepted eligible costs and the corresponding funding rates in the periodic reports. It is payed by the Commission within 90 days after the receipt of the corresponding report - up to 90% of the maximum EU contribution. The final 10% will be disbursed with the final payment which is due within 90 days after the Commission has received the final report.