The payment clock is managed according the following principles:
- The payment clock starts with the first submission of the report by the coordinator.
- The payment clock is suspended if the PO rejects the submission of the periodic reports.
- For subsequent sessions, the clock is started on each submission and suspended on each rejection.
- The payment time is calculated by the WEB tool.
- Original signed financial statements (Form Cs) must be received by the Commission before the payment execution. If this is not the case, the payment clock will be suspended at one of the very last steps in the payment process, and the coordinator will be reminded to provide the missing forms.
- The payment time is calculated at the time of the bank transfer, taking into account the suspensions as explained above. At the time of the bank transfer, the coordinator receives an email notifying him/her of the payment which contains a number of reports, including a report on the payment time calculation.