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Q: Is there a difference if the duration of the project is 2 years or 4 years?
A: For projects of a duration of more than 2 years, it is mandatory that beneficiaries submit to the Commission a certificate on the financial statements (CFS) when cumulatively its requested funding for the project is equal or exceeds 375,000€. However, for projects of 2 years or less, beneficiaries will not have to submit intermediate CFS even if the requested funding is equal or above 375,000€. Instead, they will only have to submit CFS at the end of the project if above the 375,000€ threshold.
Category : FP7 (Seventh Framework Programme) , Contracts and legal issues