agm postponed till 29th of nov , page-67

16. What are you seeking in terms of security?

"Is the security requirement reduced as the project proceeds?
Suitable security will be sought for the project commensurate with the risk. This could range from Performance Bonds to a parent company guarantee. The security requirement will not reduce over the life of the project as the State still requires recourse if fraud, mal-administration or deceptive conduct is discovered later in the project. Note that the government is not seeking to protect itself from the project deliverability – this is achieved by paying grant instalments in arrears, on the achievement of milestones."


If I read this correctly, seems that the Gov will only pay grant instalments in ARREARS which IMO means that the companies need to use their own cash and be reimbursed later? Does this not mean that the companies eligable have lots of cash available as they not getting the funds in advance?

I am mistaken again?