...

Installation of the service funds

1. AfricaRice will establish a separate bank account at BOA in Benin for the management of the operational funds of the concerned GIZ projects. The account name will be “AfricaRice GIZ - Green Innovations Project”. AfricaRice will assure that the signatories of the account are at the Benin station.
2. The 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 in the project countries.
3. The BOA account in Benin 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 (task agents), invoices and expense claims 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 Finance Unit in Benin and Abidjan will have access to the Mobile Money account and in order to view the status, to view and download the detailed records of all payments made.
7. AfricaRice will create a separate"BOA MTN" in OCS to keep a record of the transactions between the current and the MTN account at BOA.
8. The upper limit of the Mobile Money account is 20.000.000 XOF. The lower limit is 10.000.000 XOF.
9. All transaction will also be documented by the GIC to follow the balance of the various projects and accounts (see Status Service fund).

...