1.
The copy of the Grant Offer Letter must be returned to us (London Chamber of Commerce and Industry Commercial Education Trust) immediately, having been signed by an authorised officer of your organisation. By signing it you confirm that to the best of your knowledge the information given in your Grant Application is accurate and agree that your organisation will adhere to these terms and conditions.
2.
The grant may be used only for the purposes outlined by your organisation in your Grant Application as approved by us. If the grant is restricted to certain items, we will make this clear in a Grant Offer Letter. If you are unable to use the grant for the specific purpose for which it was intended you will be required to repay the grant in full.
3.
We acknowledge that projects sometimes change as they develop. If any significant changes need to be made to the project’s scope or scale, before or during implementation, or if the project’s timetable is delayed, you must discuss this with us in advance, and obtain written approval for any variations. Where changes are made without our agreement, we will reclaim any funds that have not been used for the intended purpose.
4.
The project must start within twelve months of the date of the Grant Offer Letter (unless otherwise agreed by us in writing). You must contact us immediately if the project is delayed for any reason.
5.
The grant must be spent on the agreed project within the time specified in the Grant Offer Letter (unless otherwise agreed by us in writing). On completion of a project, any unspent portion of the grant must be returned to us immediately. If, once you have received the money, you envisage the timescales of your project changing, you must contact us immediately to explain the situation and request written approval for any extension of the term of your grant.
6.
You may be offered a grant which will only be paid when specific conditions have been met. Such grants must be claimed in writing with evidence that you have met the conditions. We reserve the right to withhold payment of any grant if we are not satisfied that your organisation is in a position to spend the money or if you have not met the conditions satisfactorily.
7.
Unless specified by us in writing, the grant may not be allocated towards professional fees (e.g. architect’s or surveyor’s fees).
8.
Progress reports must be provided. Evidence of project delivery is a requirement of the grant. Progress reports are required at six-monthly intervals from the date that we inform you of your grant through a Grant Offer Letter, until completion of the project. These timescales must be adhered to, and we may legitimately ask for more frequent reports in some circumstances. We also require confirmation of the expenditure funded by the grant. If you do not provide progress reports as required, we reserve the right to reclaim the grant.
9.
Proper accounts must be kept, both for your organisation and for the project supported by our grant. These must be available for inspection at any reasonable time. Your organisation’s audited or independently examined annual accounts for the year in which you received the grant must be sent to us by the date specified by you in the Grant Application.
10.
We will require repayment of the grant if you become insolvent or go into administration, receivership or liquidation and the project for which the grant was awarded has not been completed.
11.
If your organisation does not meet the requirements set out in this document, the Trust reserves the right to require repayment of the grant at any time.