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Q: For ERC Grant schemes: Does the host institution need to open a dedicated interest-bearing account for the ERC-funded project?
A: Yes, it is an obligation to open an interest-bearing bank account. The bank account proposed by the beneficiary should allow for clear identification of payments made for project purposes and of the interests yielded by the pre-financing. It is important to know the exact amount of interest earned on the EU's pre-financing. An average amount would not be acceptable.
For further information please see : Work programme on CORDIS
Category : ERC grant schemes