Sākums › Likumi › GRANT AGREEMENT between The FINANCIAL MECHANISM COMMITTEE established by Iceland, Liechtenstein and Norway and The Ministry of Finance of the Republic of Latvia, hereinafter referred to as the "Focal Point", representing the Republic of Latvia, hereinafter referred to as the "Beneficiary State" together hereinafter referred to as the "Parties" for the financing of the "Seed Money Facility"" hereinafter referred to as the "Fund" › 4. pants

GRANT AGREEMENT between The FINANCIAL MECHANISM COMMITTEE established by Iceland, Liechtenstein and Norway and The Ministry of Finance of the Republic of Latvia, hereinafter referred to as the "Focal Point", representing the Republic of Latvia, hereinafter referred to as the "Beneficiary State" together hereinafter referred to as the "Parties" for the financing of the "Seed Money Facility"" hereinafter referred to as the "Fund"

4. pants

Spēkā · redakcija pārbaudīta 2026-05-17

Reporting

from Intermediary to Focal Point

The Intermediary will submit

quarterly Project Interim Reports to the Focal point. The

accounting unit of the Intermediary shall be responsible for

preparing the part of the Project Interim Report relevant to the

payment claim on the basis of the signed contracts or approved

reports and submitting them to the Paying Authority.

Disbursements to Intermediary (management costs)

5.1 Advance payment scheme:

10% of the management costs will

be paid as an advance payment, to be set off when 80% of the

amount for management cost has been disbursed.

5.2 Subsequent disbursements:

Disbursement of incurred costs

will be made following acceptance of Project Interim Reports.

Final disbursement of the balance of the incurred management

costs will be made following acceptance of the Project Completion

Report.