1. Payments to individual project participants will be made in the form of individual grants to each designated Project Participant in accordance with the Budget. Payments of the individual grants will be made directly to individual bank accounts designated by CRDF for the benefit of the individual participant in accordance with current CRDF procedures.

2. Payments for Individual Financial Support (“IFS”) may not exceed the amounts stipulated in the approved Budget unless approved by the CRDF Grant Representative.

3. The FPO is responsible for ensuring that appropriate records recording Project Participant level of effort are maintained and made available to the CRDF upon request.

4. The first IFS payment shall be paid in advance in accordance with the approved Budget , upon Award Activation and the submission by the Principal Investigator of an appropriate CRDF payment request form. Subsequent IFS payments will be paid at the beginning of each award quarter upon receipt of a satisfactory Project Status Report and corresponding payment request. The final IFS payment to the foreign participants shall be paid only at the conclusion of the Agreement term and the receipt and acceptance by the CRDF of a satisfactory Final Report.

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