PART ONEU.K. COMMON PROVISIONS

TITLE IVU.K. IMPLEMENTATION OF THE BUDGET

CHAPTER 6 U.K. Expenditure operations

Section 4 U.K. Payment of expenditure

Article 109U.K.Types of payment(Article 90 of the Financial Regulation)

1.Pre-financing shall provide a float. It may be split into a number of payments in accordance with sound financial management.

2.An interim payment, which may be repeated, may cover expenditure incurred for the implementation of the decision or agreement or to pay for services, supplies or works completed and/or delivered at interim stages of the contract. It may clear pre-financing in whole or in part, without prejudice to the provisions of the basic act.

3.The closure of the expenditure shall take the form of the payment of the balance which may not be repeated and which clears all preceding expenditure, or a recovery order.