# 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

### *<mark style="color:red;">**If any of the above points are not completed, funds won’t be released to FPs.**</mark>*

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