Article 25 Common rules for payments

The Commission shall make each payment from the Community contribution, subject to the availability of funds. The Commission shall automatically deduct any payment to the Joint Managing Authority from the oldest annual commitment tranche until the entire amount of this commitment has been spent. When the oldest annual commitment tranche has been entirely spent, the next annual commitment tranche may be used.

Payments shall be made in euro to the bank account of the joint operational programme.

Payments may take the form of pre-financing or the final balance.