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1. AfricaRice will establish a separate bank account at BOA for the management of the operational funds of the concerned GIZ projects. The account name will be “AfricaRice GIZ - Green Innovations Project” (GIP account). AfricaRice will assure that the signatories of the account are at the Benin station.
2. GIP account of account of AfricaRice at BOA (IBAN: BJ66BJ06 1010 3000 7260 3601 1991) will only be used for the payment of services that are delivered following the procedures of The RUN business model and related expenditures that assure the functioning of the service system.
3. The GIP account will be operated following the principle of a revolving fund. For each project the total volume, the upper limit and the lower limit will be defined by the Project Coordinator in common agreement with the finance unit at HQ. The upper limit is the maximum amount that is available in the service fund for a specific project. Request for refilling can be made once the balance in the service fund for a specific project drops below its lower limit.
4. Requests for the payment of service providers will be made separately for each project. Payments can be made by check, ordinary bank transfer or MTN mobile money.
5. The head of the KM-unit of AfricaRice will sign a contract with MTN for the subscription to mobile money services and to install a Mobile Money account (online wallet) (62147000) to enable payments by BOA-Benin using MTN mobile money technology via Internet.
6. The upper limit of the Mobile Money account is 20.000.000 XOF. The lower limit is 10.000.000 XOF.

Procedures for the disbursement of funds

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, payment of services and related expenditures in Benin

The following procedure will be followed to assure timely payment of Task Agents upon delivery:

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