Alump sum is a single payment of the grant, as opposed to a series of payments made over time.
A lump sum grant simplifies administrative and finantial burden, that means no financial reporting, no time sheets and no financial audit are requested. The payment is exclusively based on completion of activity and a technical report of results.
DIVA Project will proceed with a two-stage lump sum to beneficiaries as follows:
one pre-financing payment corresponding to 50% of the grant.
one payment of the balance corresponding to 50% of the grant.