Research Grants: Payments
Payment procedures for BSF and NSF-BSF research grants are as follows:
For first year:
- Upon signing of the Agreement, 75% of the approved budget for the first year.
For each subsequent year:
Payments are conditional upon the approval of both science and fiscal reports:
- Upon submission of the annual scientific report of the previous year, the BSF will notify the grantee of the approved budget for the current year and will forward 25% of the amount.
- Upon submission of previous year’s annual fiscal report, 50% of the approved budget for the current year and the balance of the budget approved for the previous year, subject to fiscal reports showing justification for additional payments.
- Each approved annual budget will be amended to the Agreement as Annex II-B and as an integral part thereof.
- Upon submission of the final fiscal and scientific reports, the remaining 25% of the budget, subject to the full expenditure of previous payments.