Basic Funding Rules
The basic funding rules applicable to the Fund9 SoMs process are as follows:
Each milestone can budget a maximum of 30% of the total funds requested.
Based on the stated duration of each milestone, equal monthly payments are provided to FP to reach milestone completion.
The FP receives funds in advance of the delivery of each milestone.
Except for the final milestone batch payment, where regardless of the final milestone’s length, the last payment will be issued after the Project Close-out Report (PCR) and Project Close-out Video (PCV) has been accepted in addition to the final milestone Proof of Achievement (PoA) to close out and complete the project.
Following PoA, the next batch payment can be made in the next fund distribution round to reach the next milestone.
There is always at least one payment per milestone.
General principles to be aware of
Funded project that falls under SoM process will receive funds for milestone 1 if:
the SoM is approved by Milestone Reviewers and Catalyst Team Reviewer with notes
the SoM meets the conditions (such as no milestone costing over 30% of the budget)
If a milestone is in progress:
Monthly report is submitted before the deadline
Monthly report is submitted and approved by the Catalyst Team
If a milestone is completed:
PoA is submitted before the deadline
PoA is reviewed and approved by Catalyst Team Reviewer and Milestone Reviewer with notes
If any of the above points are not completed, funds won’t be released to FPs.
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