The Prize shall be paid as follows:
- A first payment amounting to 33% of the total Prize set forth in Rule four shall be handed over at the awards ceremony.
- A second payment amounting to 33% of the Prize’s total amount shall be paid out once, in the Monitoring Commission’s judgement, 50% of the project has been suitably executed pursuant to Rule seven.
- A final payment for the outstanding amount shall be handed over once the last report on the project’s execution has been submitted and the project’s total completion has been duly verified.
Not fulfilling any of the requirements set forth concerning the submission and contents of the reports mentioned in Rule 7 shall give rise to the reimbursement of any amounts handed over and the loss of entitlement to any outstanding amounts should ONCE’s requirements to correct such deficiencies not be met.Should this be the case, ONCE shall give the award winner(s) official notice thereof.
