This process summarizes the main steps to conclude the signing of your grant agreement: signing a grant agreement and payment terms. If the consortium has decided not to sign its grant during the preparatory phase of the grant, it can initiate the termination process through the GRANT MANAGEMENT IT tool. Consult the detailed screens and descriptions of the termination before signing the grant. Grants are usually paid in several instalments over the life of the project. Once you have signed the grant agreement, you will receive pre-financing which can be followed by one or more interim payments. You will receive the balance after the completion of the project. You will receive email notifications regarding all the actions you need to perform for the preparation of the grant. For more information, see the list of all notifications related to financial aid and their recipients. A grant is a direct financial contribution from the budget of the European Union to finance: – either an action intended to contribute to the achievement of an objective forming part of a European Union policy; – the functioning of a body pursuing an objective of general European interest or pursuing an objective which is part of a policy of the European Union.
In other words, it is a non-commercial payment made by the European Commission, as contracting authority, to a given beneficiary for the implementation of an action intended to contribute to the achievement of an objective which is part of a European Union policy. A body pursuing an objective of general European interest is a European body dealing with education, training, information, innovation or research and studies on European policies, all activities contributing to the promotion of European citizenship or human rights, or a European standardisation body; or a European network representing non-profit organisations operating in the Member States or candidate countries and promoting principles and policies compatible with the objectives of the Treaties. The body signing a grant contract is designated as a beneficiary and should not be confused with the final beneficiary of the project or the target group. A grant contract can be distinguished in several respects from a purchase contract: a beneficiary is awarded for a project proposed to the services of the European Commission by a potential beneficiary (an “applicant”) and which falls within the normal framework of the beneficiary`s activities. This contrasts with a purchase contract in which the contracting authority sets out the specifications for a project it wishes to carry out. . . .