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Agreement numbcr: 2019 - 1943 / 001 - 001
Multi hcneticiaries modcl agtcctrcnt; .lunc 2019

If the total arrount of earlier payments is greater than the final anrount of the grant determirred irr
accordance with Article tI.25, the payment of the balance takes the fornr of a fecovery as pt'ovided fbr
by Afticle II.26.

lf the total arnount of earlier payments is lower than the final arnount of the grant determirred ilr
accordance witli Article 11.25, the Agency must pay the balance within 60 calendal days fi'orn lvhen it
receives tlre documents referred to in Article 1.4.4, except if Article lI.24.l or I124.2 applv.

Payment is sub-iect to the approval of the request for payment of the balance and of the acconrpanyirrg
docunrents. Their approval does not imply recognition of the compliance, authenticity, completeness
or correctness oftheir content.

The Agerrcy detennines the amount due as the balance by deducting tlre total atnount of pre-financing
and interim payments (if any) already made fi'om the final amount of the glaut determined in
accordance with Article 11.25.

The amourtt to be paid lnay, however, be offset, without the beneficiary's conserrt, against any other
alnount owed by the beneficiary to the Cornmission ol to an executive agency (under the EU or
Euratom budget), up to the rnaxirnum contribution irrdicated for that beneficiary, in the estimated
budget in Annex Ill.

I.5.5 Notification of amounts due

The Agency must send a.formal nolification to the coordinator:

(a) inforrning it of the amount due; and
(b) specifying whether the notification concerns a futher pre-financing payment or the payment of
the balance.

For the payment of the balance, the Agency must also specify the final arnoLlnt of the grant deternined
in accordance with Article II.25.

I.5.6 Interest on late payment

lf the Agency does not pay within the tirre lirnits for payment, the beneficiaries are entitled to late-
payment interestatthe rate applied by the European Central Bank for its main refinancing operations
in ettros ('the reference t'ate'), plus three and a half points. The ref'erence rate is the rate in force on the
firstday of the month in which the time lirnit for payment expires, as published in the C series of the
O//icial.Iournal of thc European (Jnion.

Late-payrnent interest is not due if all beneficiaries are Mernber States of the Union (including
regional and local governtnent authorities and other public bodies acting in the name of and on behalf
of the Member State for the purpose of the Agreement).

If tlre Agency suspends the time lirnit fol payment as provided for in Article ll.24.Z or if it suspends an
actual payments as provided for in Article 11.24.1, these actions may not be corrsidered as cases of late
payment.

Late-payment intelest covers tlre period running fi'om the day following the due date for payrnent, up
to and irrcluding the date of actual payment as established in Article 1.5.8. The Agency does not
consider payable interest when determining the final arnourrt of grant withirr the nreaning of Article
n.2s.

As an exception to the first subparagraph, if the calculated irrterest is lower than or equal to EUR 200,
it nrust be paid to the coordinator only if the coordinator requests it within two nionths of receivipg
late paynrent.
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