Operating Guidelines for use of Letter of Credit-MATRIX Step Timeframe/Report Responsibility Signed agreements at CO level CO from date of signing CO (agreement with the US Federal the Agreement Government Agency) Agree on frequency of interim Prior to signing CO reporting requirements and agreement deadline with local COTR/AOTR Submit a copy of signed grant As soon as CO agreement to HQ agreement is signed Creation of Project in Atlas As soon as the project CO budget is finalized Credit project income in Atlas Upon receipt of executed HQ agreement or amendment File quarterly FFR-425 to US As agreed with COTR / CO Federal Government Agency office AOTR Manage agreement against required As per agreement CO filing dates and expiry date requirements File final FFR-425 (individual grant) Within 90 days of grant HQ expiry following expenditure certification by CO File quarterly FFR-425 (consolidated Within 30 days of HQ for all grants) quarter’s end following expenditure certification by CO Step Timeframe/Report Responsibility Project Operational Close Before the expiry CO date Project Financial Close After operational closure CO but not more than 90 days after grant expiry Cash Draw-Down Quarterly or other period HQ TBD by HQ. Extension Notification to HQ CO within 10 working CO days of extension. Notification of Grant Expiry 60 days prior to grant HQ expiry date.
Operating Guidelines for use of Letter of Credit-MATRIX Step Timeframe/Report Responsibility Signed agreements at CO level (agreement with the US Federal Government Agency) CO from date of signing the Agreement CO Agree on frequency of interim reporting requirements and deadline with local COTR/AOTR Prior to signing agreement CO Submit a copy of signed grant agreement to HQ As soon as agreement is signed CO Creation of Project in Atlas As soon as the project budget is finalized CO Credit project income in Atlas Upon receipt of executed agreement or amendment HQ File quarterly FFR-425 to US Federal Government Agency office As agreed with COTR / AOTR CO Manage agreement against required filing dates and expiry date As per agreement requirements CO File final FFR-425 (individual grant) Within 90 days of grant expiry following expenditure certification by CO HQ File quarterly FFR-425 (consolidated for all grants) Within 30 days of quarter’s end following expenditure certification by CO HQ Step Timeframe/Report Responsibility Project Operational Close Before the expiry date CO Project Financial Close After operational closure but not more than 90 days after grant expiry CO Cash Draw-Down Quarterly or other period TBD by HQ. HQ Extension Notification to HQ CO within 10 working days of extension. CO Notification of Grant Expiry 60 days prior to grant expiry date. HQ
US-Government-Letter-of-Credit-Guidelines-and-Procedures-for-Funding-UNDP-Projects_E.docx