Quiz 3

The recipient is obliged to open a special bank account. The opening of a separate sub-account with the recipient’s bank or a separate cost centre in the recipient’s accounts is not sufficient.

The recipient is not obliged to open a special bank account. The opening of a separate sub-account with the recipient’s bank or a separate cost centre in the recipient’s accounts is sufficient.

Within the specimen contract, a choice can be made between the advance payment, reimbursement and direct payment procedures.

Within the specimen contract, a choice can be made between the advance payment procedure (combined with the direct payment procedure) and the reimbursement procedure.

In the case of financing contracts with a contract term of less than 6 months, it is possible to pay out up to 90% of the contract value when the contract is concluded.

For the advance payment procedure, there is the possibility of paying out up to 90% of the contract value when the contract is concluded.

If advance payments are not repaid by the recipient using the contractually agreed settlement documents, GIZ can take legal action to enforce them. The advance payment procedure thus poses a low risk to GIZ.

The reimbursement procedure stipulates that the recipient first makes all payments under the financing agreement themselves and is not reimbursed by GIZ until the recipient has submitted corresponding evidence of the use of the funds. The reimbursement procedure thus poses a low risk to GIZ.

Financing agreements

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