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Grant payments are based on PUBLISHED 4C.

:as of Jan 2013.

Total actual eligible expenditure incurred up to end of ‘current review period’
plus: estimated eligible expenditure for ’next review period’
multiply: by grant percentage
subtract: grant payments made so far
=: grant payment due

where:
‘current review period’ is the quarter immediately prior to the quarter in which the participant lodges the quarterly progress report (or end of project report as applicable); and
‘next review period’ is the quarter in which the grantee submits the relevant report and payment claim.