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.