Download Appendix 4 - Netherlands Enterprise Agency

Appendix 4
Financial Statements of the project partners
To be used for the application procedure
2013
Content of appendix 4:
- Background information
- Appendix 4a: Letter of Intent for contribution Public Institutions.
- Appendix 4b: Mandatory model Bank Guarantee
- Appendix 4c: Mandatory model Third Party Guarantee
Background information
The information provided in this appendix will be used to assess whether the project partners have
sufficient financial means to successfully implement the project.
Companies, NGOs, Knowledge Institutes
For companies, NGOs and Knowledge Institutes the basis for the financial assessment consists of
assessment of the most recent, audited annual reports of the partners which contribute financially
to cover the project costs (see below). The figures provided in these reports are used to fill out the
Key Standards table in Appendix 3, sheet 4. These key standards are used as a starting point for
the financial assessment of the project partners. Should these key standards not be met, or should
there be any other reason to doubt the financial position of either one of the partners, additional
information should be provided in order to prove the project partners have sufficient financial
means to successfully implement the project (e.g signing of third party guarantees, bank
guarantees etc.). Mandatory models for the Bank Guarantee and Third Party Guarantee can be
found in Appendix 4b and 4c. If applicable and required the subsidy can be granted under provision
a legally signed Bank Guarantee or Third Party Guarantee will be provided.
Most recent, audited annual report
In order for FDW to make the financial analysis, at least the following information needs to be
attached to this appendix:
1. Companies:
o Most recent: this should be the 2012 report or the 2011 report. Should neither the 2012
nor the 2011 report be available, please explain why those annual reports are not
available and submit your most recent available annual report.
o Audited: the annual report should be audited by a chartered accountant, according to the
law of your country of origin. If your company is not legally bound to have its annual
report audited, you should at least provide a compilation statement from a chartered
accountant regarding the balance sheet and the income statement.
o Annual report: when available, the full annual report should be submitted including all
accompanying notes and annexes. If no annual report is available, at least the annual
financial statements should be provided, covering the balance sheet and the income
statement (the specification of 'most recent', 'audited' and 'company' then naturally
applies to the annual financial statements). Annual reports or annual financial statements
usually cover the present year's figures in relation to the preceding year's figures. The
balance sheet and income statement need to be (translated) in either Dutch or English.
In exception to the general rule, it is allowed to only provide digital copies of the annual
reports (no hardcopy needed). This ONLY applies to the annual reports, including all
accompanying notes and annexes.
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o Company: the annual report submitted should at all time be the annual report of the
company that is the partner as presented in the application form. If this company has no
individual annual report as it is part of a group, this should be explained and the
consolidated annual report of this group should be submitted.
2. NGOs and Knowledge Institutes:
o Most recent: this should be the 2012 report or the 2011 report. Should neither the 2012
nor the 2011 report be available, please explain why those annual reports are not
available and submit your most recent available annual report.
o Audited: the annual report should be audited by a chartered accountant, according to the
law of your country of origin. If your NGO is not legally bound to have its annual report
audited, you should at least provide a compilation statement from a chartered accountant
regarding the balance sheet and the income statement.
o Annual report: when available, the full annual report should be submitted including all
accompanying notes and annexes. If no annual report is available, at least the annual
financial statements should be provided, covering the balance sheet and the income
statement (the specification of 'most recent', 'audited' and 'NGO or Knowledge Institute’
then naturally applies to the annual financial statements). Annual reports or annual
financial statements usually cover the present year's figures in relation to the preceding
year's figures. The balance sheet and income statement need to be (translated) in either
Dutch or English. In exception to the general rule, it is allowed to only provide digital
copies of the annual reports (no hardcopy needed). This ONLY applies to the annual
reports, including all accompanying notes and annexes.
o NGOs and Knowledge Institutes: the annual report submitted should at all times be the
annual report of the NGO or Knowledge institute that is the NGO or Knowledge Institute
as presented in the application form. If this NGO or Knowledge Institute has no individual
annual report as it is part of a group, this should be explained and the consolidated
annual report of this group should be submitted.
Public Institutions
For Public Institutions the financial statement consist of a legally signed Letter of Intent following
the mandatory model of Appendix 4a. Please make sure the Letter is signed by the Public
Institution(s) as presented in the application form or the financially mandated Public Institution.
Key Standards table:
Based on the figures in the annual financial statements, the key standards need to be calculated in
Appendix 3, sheet 4 Key Standards Table. Please refer to Appendix 3 for more information on the
Key Standards table.
Explanation in text:
Describe in Appendix 1, Project Plan, paragraph 5.1 ‘Contribution project partners’ how the subsidy
will be pre-financed, how the own contribution will be financed and how the working capital will be
provided. Also, if partners do not meet the key standards, or if there is any other issue that may
lead to doubt about the financial position of either one of the partners, please explain in text how
the project partners will finance the project during its implementation.
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Appendix 4a
Letter of Intent
[PROJECT TITLE]
[Name of Public Institute] herewith formally states to contribute to the partnership to enable the
financing of the project [project title]
The contribution of [Name of Public Institute] consist(s) of:
A contribution of
[EUR amount]
With this Letter of Intent the [Name of Public Institute] declares its intention to finance the project
[project title].
The contribution will be made available to the project organization and will be subject to the
conditions decided upon by the partnership.
[name, title, authority and signature]
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Appendix 4b, Mandatory model Bank Guarantee
Ghana Wash Window-FDW
BANK GUARANTEE
THIS GUARANTEE is issued on ________________ (date)
By
________________ (name of bank that provides guarantee), (the "Guarantor"), in favour of THE
STATE OF THE NETHERLANDS on behalf of the Minister for Foreign Trade and
Development Cooperation, in this matter represented by NL EVD International, Agency NL (the
"State");
WHEREAS
A) On ___________ (date), the State issued an administrative decision ('beschikking') to the
company/NGO/knowledge institute named ________________ (the "Private Party") providing a
grant for a project under the Ghana WASH Window-Sustainable Water Fund (GWW-FDW). The
project is titled ________________ (the "Project") and will be implemented in Ghana.
B) For this project, the State requires that the Private party fulfils its obligations mentioned in the
administrative decision in order to ensure implementation of the Project.
C) These obligations include a financial contribution of the Private Party to the Project.
HEREBY DECLARES AS FOLLOWS:
1. The Guarantor stands surety vis-à-vis the State for an amount not exceeding EUR
________________.
2. This unconditional bank guarantee comes into effect on ___________ (date start of project) and
will remain in effect until ___________ (date two months after end of project).
3. The Guarantor enters into the obligation to pay to the State all that owed in the matter by the
Private Party according to the State's statement, at the State's first written request and at the
mere communication that the Private Party is in default of compliance with the obligations referred
to above.
4. The Guarantor is not required to make payment under this advance payment guarantee in the
event that the written claim from the State is not accompanied by a statement by the State,
bearing a legally valid signature, indicating that the State has served the Private Party notice of
default, and that the Private Party then failed, in the State's opinion, to meet its obligation(s)
within 14 calendar days of the date on which notice of default was served, no later than the date
on which the GWW-FDW grant for the Project is fixed.
A notice of default, as described above, is not required in the following cases:
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a) the Private Party is in a state of bankruptcy
b) the Private Party is granted protection from its creditors, or
c) the Private Party dissolves its company.
This declaration is subject to the law of The Netherlands.
Thus signed and drawn up in _______________ (place) on _______________ (date).
For
_______________ (name of the Guarantor),
_______________ (signature)
(stamp)
_______________ (name and position)
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Appendix 4c, Mandatory model Bank Guarantee
Ghana WASH Window -FDW
THIRD PARTY GUARANTEE
THIS GUARANTEE is made on ________________ (date)
By
________________ (name of legal entity/company/person that provides guarantee), a company or
legal entity established under the laws of __________ (the "Guarantor"), in favour of THE STATE
OF THE NETHERLANDS on behalf of the Minister for Foreign Trade and Development
Cooperation, in this matter represented by NL EVD International, Agency NL (the "State");
WHEREAS
A) On ___________ (date of submission), the company/organization named ________________
(the "Applicant") submitted an application to the State for a grant under the Ghana WASH
Window - Sustainable Water Fund (GWW-FDW). The project is titled ________________ (the
"Project") and will be implemented in Ghana.
B) In case the application is accepted, the State requires that the Applicant/(Partnership?) fulfils its
obligations mentioned in the administrative decision ('beschikking') in order to ensure
implementation of the Project.
C) These obligations include a financial contribution of the Applicant/Project partner to the Project.
HEREBY DECLARES AS FOLLOWS:
1. The Guarantor irrevocably and unconditionally stands surety vis-à-vis the State for the financial
contribution of the Applicant/Project partner in the project, which amounts to EUR
________________.
2. This Guarantee will become effective once the GWW-FDW grant for the Project has been
awarded and will terminate when the Project has been concluded and the GWW-FDW grant has
been fixed.
3. The Guarantor provides, together with this guarantee, the State with its latest audited annual
report and accounts in order to enable the State to assess the Guarantor's financial standing.
4. The Guarantor enters into the obligation to pay to the State all that owed in the matter by the
Company according to the State's statement, at the State's first written request and at the mere
communication that the Company is in default of compliance with the obligations referred to above.
5. The Guarantor is not required to make payment under this advance payment guarantee in the
event that the written claim from the State is not accompanied by a statement by the State,
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bearing a legally valid signature, indicating that the State has served the Company notice of
default, and that the Company then failed, in the State's opinion, to meet its obligation(s) within
14 calendar days of the date on which notice of default was served, no later than the date on which
the GWW-FDW grant for the Project is fixed.
A notice of default, as described above, is not required in the following cases:
a) the Company is in a state of bankruptcy
b) the Company is granted protection from its creditors, or
c) the Company dissolves its company.
This declaration is subject to the law of The Netherlands.
Thus signed and drawn up in _______________ (place) on _______________ (date).
For
_______________ (name of the Guarantor),
_______________ (signature)
_______________ (name and position)
Please note:
The most recent audited annual report and/or annual
accounts of the Guarantor, including a copy of the
passport of the signatory who is legally empowered to
sign on behalf of the guarantor, must be presented
together with this document!
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