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 milestoneโ€™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 wonโ€™t be released to FPs.

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