Successful applicants will be asked to enter into a grant agreement with Investment NSW that outlines the respective obligations of both parties in relation to the provision of funding.
Successful applicants will be required to submit reports in line with the funding agreement. There may be specific time commitments which are critical to the funding deed continuing.
Applicants should not make financial commitments for funded project activities that they cannot fund themselves until funding deeds have been executed.
Grants will be paid pursuant to the terms set out in the funding deed. Payments are made on the basis of progress reported against the funding deed commitments.
Recipients can be required to pay back unspent funds delivered, or those funds which have not been spent in accordance with the funding deed.
Requests for variations or changes to the grants will only be considered in limited circumstances and when Investment NSW is satisfied that the circumstances present no probity concerns that invalidate the assumptions that underpinned the application and its assessment. Changes or variations may be rejected or accepted at Investment NSW’s sole and absolute discretion, and also may be made subject to certain conditions.
Recipients may be required to participate in program evaluations to determine the extent to which grants have contributed to the objectives of the program. This can include providing evidence of delivery of commitments entered into by the recipient.