The amount of Euro 30,000 shall be withheld from disbursement. The amount withheld shall be disbursed upon presentation of the final statement of accounts and as soon as all obligations by the Recipient arising from the Agreement, in particular those regarding the evidence of use of the funds for the purpose stipulated and the reporting, have been met.?

The Recipient shall open a special bank accoun?t for all payments from the GTZ grant and shall submit evidence of this to the GTZ before the first disbursement is made. All amounts paid into this special account by the GTZ shall remain in the account as trust funds until they are used in payment for the supplies and/or services to be financed from the grant.?

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Answer rating: 100% (QA)

One disadvantage in this text could be that the recipient is required to withhold a significant amou... View the full answer