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Financial IssuesMilestone paymentsThe project agreement contains a schedule of payments that are agreed between FRDC and the research provider with respect to project deliverables. This schedule describes the milestone due date and amount and details of what is required. Once a milestone has been achieved by the researcher and the associated milestone report submitted, and approved by FRDC, the milestone payment will be made to the research provider upon receipt of a tax invoice.
Project completionThe FRDC only requires one financial report. This report is sent to the FRDC at the completion of a project. It must contain a full transaction listing to verify expenditure. The template for this report is available for download.
The final payment for the project will not be made until a satisfactory financial report is submitted and approved. |
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