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Knowing the financial principles of grant requests - second part

Within all Community grants, financial contributions are subject to some rules deriving from the Financial Regulations applicable to the General Budget of the European Union, such as the General Terms and Conditions of the European Commission. Their application is compulsory. Legal entity
Grants will only be awarded to organisations with a legal personality.

Grant amount

It should be noted that the amount granted by the contract/decision is to be considered as a maximum which cannot be increased in any circumstances.
However, the final amount is only granted after analysis of the final report and can be reduced on inspection of the actual implementation of the project (for example, the final grants based on fixed amounts are calculated on the basis of the actual number of participants and not on the foreseen number of participants).

No double-financing

Each individual project is entitled to receive one, and only one, grant from the Community budget for the same activity. A beneficiary may be awarded only one operating grant per financial year.
Projects or organisations which have applied or plan to apply for another Community grant under any other programme of the European institutions should indicate it clearly in their application and must inform the project officer of the outcome of their parallel application. Projects which finally receive another Community grant are deemed ineligible.

Guarantee

The project officer at the EC may require any organisation which has been awarded a grant to provide a guarantee first, in order to limit the financial risks linked to the prefinancing payment.
The purpose of this guarantee is to make a bank or a financial institution, third party or the other beneficiaries stand as irrevocable collateral security for, or first-call guarantor of, the grant beneficiary’s obligations.

This financial guarantee, in euro, shall be provided by an approved bank or financial institution established in one of the Member States of the European Union.
The guarantee may be replaced by a joint and several guarantee by a third party or by a joint guarantee of the beneficiaries of an action who are parties to the same grant agreement/decision.
The guarantee shall be released as the pre-financing is gradually cleared against interim payments or payments of balances to the beneficiary, in accordance with the conditions laid down in the grant agreement/decision.
This requirement does not apply to public bodies.

Non-retroactivity

No grant may be awarded retrospectively for projects already completed.
A grant may be awarded for a project which has already begun only where the applicant can demonstrate the need to start the project before the agreement/decision has been signed. In such cases, expenditure eligible for financing may not have been incurred prior to the date of submission of the grant application.
Starting the project before signing the agreement/decision is done at the risk of the organisation and does not make it more likely a grant will be awarded.

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