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European Commission Research & Innovation Jorge Campos Vallejo DG RTD A4 Legal Aspects

Transition to the new Financial Regulation (FR) and its Rules of Application (RAP) - implications on the FP7 model Grant Agreement. European Commission Research & Innovation Jorge Campos Vallejo DG RTD A4 Legal Aspects. OUR AGENDA FOR TODAY

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European Commission Research & Innovation Jorge Campos Vallejo DG RTD A4 Legal Aspects

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  1. Transition to the new Financial Regulation (FR) and its Rules of Application (RAP) - implications on the FP7 model Grant Agreement European Commission Research & Innovation Jorge Campos Vallejo DG RTD A4 Legal Aspects

  2. OUR AGENDA FOR TODAY What are the main changes of the Financial Regulation? • How do they affect the ResearchProjects? • Questions & Answers

  3. The main changes of the FR affecting the FP7 Projects Main changes introduced by the new FR affecting the FP7 Grant Agreements: • Time-to-grant – new time limits are set from the submission deadline for informing applicants on the outcome of the evaluation and for signing the grants agreements. • Time-to-pay – the single payment deadlines have been shortened: 30/60/90 days • Interest on pre-financing for grants – it is no longer compulsory or due to the EU budget. • Financial support given by beneficiary to third parties • Terminology related changes

  4. TIME TO GRANT 6 months 3 months Changes: • Increased transparency - CP shall now specify the expected TTG (not only the planned date for the award decision). • The FR sets 6 months from the submission deadline (second for two-stage submission procedures) to information on the outcome of the evaluation + 3 additional months for the signature of grants agreements / notification of grant decisions. Call deadline Legal commitment Information to applicants

  5. TIME TO PAY • Shorter time limit to pay 30/60/90instead of currently 45/90/105 Changes: • 30 calendar days for payments that do not depend on the approval of a report or certificate  pre-financing; • 90 calendar days for payments that depend on the approval of a report or a certificate;

  6. INTEREST ON PRE-FINANCING • No obligation to open interest-bearing accounts for the beneficiaries • No more reporting

  7. How do they affect the Research Projects? • Action needed  Modify the FP7 Grant agreements (general, ERC and Marie Curie grant agreements) in order to be in line with the revised FR. • Via • Commission Decision To be adopted before 31/12/2012 Entry into force on 01/01/2013

  8. 2 distinct situations 1/2 • Grant agreements to be signed as from 01/01/2013  new rules apply • Grant agreements signed until 31/12/2012, including on-going grant agreements

  9. Grant agreements signed until 31/12/2012, including on-going grant agreements • The current rules apply until 31/12/2012  e.g. interest on pre-financing has to be declared and reimbursed to the Commission by the Coordinator if no exemption granted • As of 01/01/2013, with the entry into force of the Commission Decision modifying the FP7 GAs the new rules will also apply without the need for formal individual amendments • The beneficiaries will be informed by the Commission services in due time

  10. THANK YOU FOR YOUR ATTENTION!

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