II. Specific pre-disbursement conditions to be complied with by the Second prior to disbursement of the second tranche of the First instalment, which shall be: Submission of Utilization Certificates, duly certified by a CAG empanelled auditor, thereby certifying utilisation of at least 50% of the total available funds towards the Project, by the Second Party; Submission of audit reports of the funds disbursed by the First Party thereby demonstrating that the said funds have been duly utilized towards the Project; Submission of progress reports to the First Party on a regular basis in the prescribed format for the approved expenditure; Furnishing of a Declaration-cum-certificate by the Second Party thereby declaring and certifying that Project is being implemented as per the Project Proposal as approved by the First Party; Furnishing of an undertaking from the Second Party thereby undertaking that the First Party shall have the discretion to conduct checks and audits depending on the situation of the case. III. Specific pre-disbursement conditions to be complied with by the Second Party prior to disbursement of the third tranche of the First instalment, which shall be: Submission of Utilization Certificates, duly certified by a CAG empanelled auditor, thereby certifying utilisation of at least 90% of the total available funds towards the Project, by the Second Party; Submission of reports of the funds disbursed by the First Party thereby demonstrating that the said funds have been duly utilized towards the Project; Submission of progress reports to the First Party on a regular basis in the prescribed format for the approved expenditure; Furnishing of a Declaration-cum-certificate by the Second Party thereby declaring and certifying that Project is being implemented as per the Project Proposal as approved by the First Party; Furnishing of an undertaking from the Second Party thereby undertaking that the First Party shall have the discretion to conduct checks and audits depending on the situation of the case. IV. Specific pre-disbursement conditions to be complied with by the Second prior to disbursement of the First tranche of the Second, Third, Fourth and Fifth instalments, which shall be: Submission of Utilization Certificate(s), duly certified by a CAG empanelled auditor, thereby certifying complete utilisation of the total funds released towards the Project in the previous year(s), by the Second Party;
II. Specific pre-disbursement conditions to be complied with by the Second prior to disbursement of the second tranche of the First instalment, which shall be: Submission of Utilization Certificates, duly certified by a CAG empanelled auditor, thereby certifying utilisation of at least 50% of the total available funds towards the Project, by the Second Party; Submission of audit reports of the funds disbursed by the First Party thereby demonstrating that the said funds have been duly utilized towards the Project; Submission of progress reports to the First Party on a regular basis in the prescribed format for the approved expenditure; Furnishing of a Declaration-cum-certificate by the Second Party thereby declaring and certifying that Project is being implemented as per the Project Proposal as approved by the First Party; Furnishing of an undertaking from the Second Party thereby undertaking that the First Party shall have the discretion to conduct checks and audits depending on the situation of the case. III. Specific pre-disbursement conditions to be complied with by the Second Party prior to disbursement of the third tranche of the First instalment, which shall be: Submission of Utilization Certificates, duly certified by a CAG empanelled auditor, thereby certifying utilisation of at least 90% of the total available funds towards the Project, by the Second Party; Submission of reports of the funds disbursed by the First Party thereby demonstrating that the said funds have been duly utilized towards the Project; Submission of progress reports to the First Party on a regular basis in the prescribed format for the approved expenditure; Furnishing of a Declaration-cum-certificate by the Second Party thereby declaring and certifying that Project is being implemented as per the Project Proposal as approved by the First Party; Furnishing of an undertaking from the Second Party thereby undertaking that the First Party shall have the discretion to conduct checks and audits depending on the situation of the case. IV. Specific pre-disbursement conditions to be complied with by the Second prior to disbursement of the First tranche of the Second, Third, Fourth and Fifth instalments, which shall be: Submission of Utilization Certificate(s), duly certified by a CAG empanelled auditor, thereby certifying complete utilisation of the total funds released towards the Project in the previous year(s), by the Second Party;
Draft_of_New_MoU_NSDC_Udaan_2013.docx