[Uni-verse] Problem Urgent

[Ton Roosendaal]

Hi,

Reading the 6_002228_CONT_CORE_FINAL 23-01-04.pdf contract, I learn  
there are 6 payment rounds:

1- after signing & approval: 26.67% advance
2- after report P1 (year 1) approved & audited, the full money for P1
3- after report P1 approved, 20% advance (40% of 18 months)
4- after report P2 (year 2) approved & audited, the full money for P2
5- after report P2 approved, 12% advance (40% of 12 months)
6- after final reports approved the rest

Apparently payments after reporting can be on different moments, they  
depend on the audit certificate.

This is a slightly better picture as you mention below, but I don't  
know the schedule how fast the EU approves intermediate year  
reporting... you mention it could easily be 6-8 months?

-Ton-


On Wednesday, Jan 28, 2004, at 17:41 Europe/Amsterdam, Gert Svensson  
wrote:

> The pre financing is the part of the money you get after roughly 45  
> days after the start of the project.
> You normally  get 80 % of  the estimated cost for 18 months that is  
> about 14 months in advance.
> The next payment is after the first 12 months cost statement which  
> realistically would be paid about  month 18-20
> due to the amount of time it takes for the commission to process the  
> cost statement. In this case you would have
> to have a buffer 4-6 months.
>
> In the current case we are talking of 26.,67 % of 18 months roughly 5  
> months in advance.
> This would mean that your buffer would have to be 13-15 months which I  
> understand would be
> a big problem for you.
>
> If we cannot get the commission to change their mind I would suggest  
> to take a decision in the PCC to distribute
> the pre financing to some extent based on needs instead of equal  
> amount. This would mean that big partners
> like we would get less % and small partners like Blender would get  
> more.
> It may still be a problem however.
>
> Best Regards
> Gert
>
>
> Ton Roosendaal wrote:
>
>> Hi,
>>
>> This afternoon I go over this with Angela. But I don't know what it   
>> means... can you elaborate the below statement for me? When then does  
>>  what get paid, and what does it mean for cashflow?
>>
>> The BF is the smallest of the participants; we will depend on the   
>> subsidy money quite some. We have sufficient cashflow to pay several   
>> months in advance, but we cannot afford to do this for a full half  
>> year  period.
>>
>> -Ton-
>>
>>
>>
>>
>>
>> On Tuesday, Jan 27, 2004, at 22:55 Europe/Amsterdam, Gert Svensson   
>> wrote:
>>
>>> I have received the contract from the commission for us to sign.
>>> There is however an unforeseen problem in the contract.
>>> The pre financing is 26.67 % instead of normally 80 %.
>>> This would mean that we have to wait longer for proper financing in   
>>> the project.
>>> This is no big problem for us but what do you say about this?
>>>
>>> I called the project officer immediately and he claimed this was done
>>> because if the bad financial situation at KTH.  This seems quite  
>>> absurd
>>> as we are a part of the Swedish government. Country of Sweden going   
>>> bankruptcy??
>>>
>>> Anyway the situation seems to be that we cannot change this
>>> without further delay in the start of the project.
>>>
>>> Please let me know your comments!
>>>
>>> Best Regards
>>> Gert
>>>
>>> _______________________________________________
>>> Uni-verse mailing list
>>> Uni-verse@blender.org
>>> http://www.blender.org/mailman/listinfo/uni-verse
>>>
>>>
>> ---------------------------------------------------------------------- 
>> -- --
>> Ton Roosendaal  Blender Foundation ton@blender.org   
>> http://www.blender.org
>>
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>
>
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>
------------------------------------------------------------------------ 
--
Ton Roosendaal  Blender Foundation ton@blender.org  
http://www.blender.org