20 – PROJECT IMPLEMENTATION

1. Investments must be fully implemented and completed within the deadlines listed in section 13.2.1.a. Investments unfinished by this deadline will be ineligible for grants. MECI may grant a three-month extension if a written request is received from the beneficiary by registered letter or email before the initial deadline. In assessing an extension request, MECI may consider, among others, the beneficiary’s timely actions toward the project implementation, including but not limited to, the responses of the beneficiary toward any authorities’ requests, equipment order placements, financing approvals, etc, assuming that the deadlines for the JTF are not jeopardized.
2. The implementation date of the investment is recognized as follows:
   1. for equipment brought in from overseas, it is acknowledged by the date on the purchase invoice and the import / receipt date;
   2. for items acquired within the local market, it is determined by the date on the supplier’s invoice.
3. Expenses incurred prior to the approval decision are undertaken at the applicant’s own risk and do not obligate MECI to approve or reject the application.
4. Initiating any eligible expenditure category must not commence before the application date. If any expenditure category begins before the application is submitted, it will be completely disqualified from eligibility.
5. The commencement of implementation will be considered as the initiation of the announcement of eligible projects on MECI (BFU) website after the bidding process.

Τέλος