Signing of financing agreements
Article 10
1. A financing agreement shall be established between the Commission and each partner country for each joint operational programme. The Joint Managing Authority designated under each joint operational programme may countersign the financing agreement. 2. The joint operational programme adopted by the Commission shall be a technical annex to the financing agreement. 3. Each financing agreement shall be concluded at the latest before the end of the year which follows the year of the Commission decision adopting the joint operational programme (N+1 rule). 4. If the financing agreement is not concluded within the time-limit, the external component of the joint operational programme with the partner country may not be launched. Where a programme includes several partner countries, it may be launched with each partner country as soon as that country has signed its financing agreement. 5. If no partner country signs a financing agreement within the set time limit, the external component of the joint operational programme shall become null and void and paragraphs 3 and 4 of Article 44 shall apply.