Article 3: Maximum amount and form of the grant
3.1 The direct costs of the Action eligible for financing by the Union are estimated at EUR […].Indirect costs are estimated at EUR […] and shall be declared as eligible on the basis of a flat-rate of […] % of the total eligible direct costs. The total eligible costs of the Action are estimated at EUR […], as set out in the Financial Overview of the Action in the Single Form.
Here are reported the total amount of direct and indirect costs of the Action as indicated in the Session 10.1 of the Single Form.
The indirect costs can never exceed 7% of the direct costs.
The figure for the total eligible costs results from the sum of direct costs + indirect costs of the Action and should result in the Section 10.1 of the Single Form and in the Financial Statement annexed to it.
3.2 The European Union undertakes to finance a maximum of EUR […], equivalent to […]% of the estimated total eligible costs specified in Article 3(1) herein.
The EC financial contribution is expressed as a maximum amount, and as a percentage of the estimation of total eligible costs indicated in the Article 3.1.
The percentage varies according to the financing modalities (full or partial financing ) applicable to the action.
3.3 The final amount of the Union contribution shall be determined in accordance with Article 18.8 of the General Conditions.
Article 18.8 of the General Conditions states that the final amount of the grant shall be determined taking into consideration the situation of:
- Under spending compared to the estimated value expressed in Article 3.1. of the Agreement; in this case final EC financial contribution may be reduced to the amount resulting from multiplying the percentage specified in Article 3.2 of the Agreement by the expenditure declared eligible.
- Overspending compared to the estimated value expressed in Article 3.1 of the Agreement; in this case the EC contribution will be limited to the maximum amount specified in Article 3.2 of the Agreement.
These rules have to be applied following the application of the no-profit rule and without prejudice of the right of the Commission to reduce the amount of the grant.
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