Terms and Conditions for Project Grants
Updated on 26 May 2025
The Finnish version titled “Hankeavustuksen ehdot” constitutes the official and legally binding version of the Terms and Conditions for project grants. In the event of any discrepancies between the original Finnish and this English version, the Finnish version shall prevail.
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The grant recipient signs the grant terms in a commitment as part of the payment schedule. The grant is subject to the terms in effect at the time the commitment is signed. Please review the terms when signing the commitment.
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1. The project grant may only be used for the specific purpose defined in the grant decision and solely for actions outlined in the project plan.
2. Eligible costs include direct expenses related to the project. The project budget may include overhead costs up to a maximum of 20% of the awarded grant amount. Overhead costs refer to administrative expenses that cannot be directly allocated to individual project activities.
3. The grant recipient must promptly notify Adventurous Ideas Oy of any significant changes affecting the project or funding plan as presented in the application.
4. The grant recipient must report the use of the grant to Adventurous Ideas Oy as follows: A final report must be submitted no later than three (3) months after the project ends. For projects lasting more than 18 months, an interim report must also be submitted 12 months after the project start date, and no later than one (1) month after the interim reporting date. Reporting must follow the guidelines provided by Adventurous Ideas Oy.
5. The grant recipient must maintain accounting in accordance with the Finnish Accounting Act and Decree. The accounting must be organized so that the use of the grant can be reliably monitored through a dedicated cost center. The project accounting must present the total project costs, including any self-financing portion, the awarded grant, recorded project expenses, project-related income, and funding received from other sources.
6. The grant may only be used during the period specified in the application. All income and expenses related to the use of the grant must be recorded within the grant period. Adventurous Ideas Oy has the right to audit the recipient’s accounts as necessary to verify compliance with these terms.
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7. Repayment or Suspension of the Grant
7.1 The project grant may be reclaimed or its disbursement suspended if:
a. The grant is used for a purpose other than that for which it was awarded.
b. The recipient has provided false or misleading information, or withheld information, during the application or monitoring phases.
c. The recipient fails to submit the interim or final report within the time frame specified in section 4, unless exceptional circumstances (e.g., force majeure) apply, in which case reporting must follow a separately agreed timeline between the recipient and Adventurous Ideas Oy.
d. The grant is not used within the approved period.
e. Other conditions of the grant are not complied with.
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7.2 A representative of the recipient organization must promptly contact Adventurous Ideas Oy if any of the circumstances listed in section 7.1 are met.
7.3 If the repayment conditions are met, Adventurous Ideas Oy has the right to reclaim all or part of the awarded grant.
8. The intellectual property rights arising from the project belong to the grant recipient unless otherwise agreed. However, Adventurous Ideas Oy has the right to use the final report and other materials submitted in connection with project reporting in its own activities, such as in impact assessments and communications.
9. The project grant may not be used to support other operators or unrelated activities.
10. The grant recipient is obliged to provide Adventurous Ideas Oy with all necessary information and clarifications to enable monitoring of the grant use throughout the project period.
11. In any communication related to the project, the recipient must mention Adventurous Ideas Oy as the grant provider and follow any instructions provided regarding the use of logos or names.
12. Finnish law shall apply to this grant and any related matters. The applicant shall electronically sign a commitment prepared by Adventurous Ideas Oy, which may be drawn up in either Finnish or English. All documents and reports related to the commitment must be submitted in the language in which the commitment is made, unless otherwise agreed. Any disputes arising from this grant commitment shall primarily be resolved through negotiations between the parties. If no resolution is reached, the dispute shall be finally settled by arbitration in accordance with the Arbitration Rules of the Finland Chamber of Commerce. The arbitration tribunal shall consist of a sole arbitrator. The seat of arbitration shall be Helsinki, and the language of the arbitration shall be the language in which the commitment was made.