A recipient under the Program is obliged to:
- accept the terms and conditions for participation in the Program and the obligations arising thereof, as these are set in the Program Implementation Guide;
- comply with the terms and conditions set in the loan agreement co-signed with the bank;
- accept the performance of scheduled on-the-spot inspections by competent national or Community officials, following prior consultation, while at the same time facilitate their work and provide the relevant information requested;
- maintain the project for five (5) years from its date of completion and keep the project file for the same period of time; the latter must include all the forms relating to the Program, as well as the two EPCs and the documents of expenditure issued for the interventions implemented;
- comply with national and Community legislation throughout the whole interventions’ implementation period and obtain the required authorizations or/and permits stipulated by the relevant legislation.
In complying with the above obligations, the recipient fills out and submits, along with his/her application, the respective Legal Statement referred to Annexes ΙV-A and IV-Β. If it is proven that the content of the legal statement is untrue or that the obligations determined therein are not followed, in addition to the penalties provided by the Law (Law 1559/1986) this may lead to cancelation of the relevant decision for approval, thus disqualifying the recipient from the Program.
In the case of a block of flats, the recipients’ representative is under obligation to accept the terms and conditions for participation in the Program and the obligations arising thereof.
Within this framework, the representative fills out and submits the Legal Statement referred to Annex ΙV-C along with his/her application.
Consequences of non-compliance with the terms and conditions of the Program and the decision for approval
If a project is not completed, E.T.E.AN. A.E. will issue a decision cancelling the approval of the recipient’s project within the Program, and thus the relevant incentives will not be granted. In particular, if a down payment on the loan has been disbursed and the recipient fails to implement the project, or if, following the implementation of the project, upon submission of the supporting documents required for the disbursement of the rest of the loan amount, it is established that the minimum energy target of the Program has not been achieved, the loan agreement will no longer be subject to the terms and conditions of the Program, thus bringing about the consequences stipulated in the loan agreement. The decision for cancelling the approval is notified to the bank, in order to inform the recipient and implement all necessary actions.
If the project is completed and its budget proves to be lower than the eligible budget set in the decision for the approval of the recipient’s project, either because the documents of expenditure submitted account for an amount lower than the project’s eligible budget, or because settlement of the documents of expenditure cannot be completed (no payment of the excess amount by the recipient), or because settlement of the documents of expenditure has not been done according to the stipulations set in the section Payment of Expenditures, the decision for approval is modified by the Beneficiary accordingly, the incentives are adjusted, the amount paid by E.T.E.AN. A.E. as participation in the loan capital is revised, and the loan agreement is amended on the basis of the new eligible budget. The amended decision for approval is notified to the bank, so that the recipient is informed and the loan agreement is amended accordingly. Any excess amount that may have been disbursed will either be immediately refunded by the recipient or covered by a new loan agreement, which will not be subjected to the terms and conditions of the Program.
If, following completion of the project, on the basis of inspections performed by competent national or Community officials, it is established that the project has not been properly implemented, E.T.E.AN. A.E.. undertakes all necessary actions to cancel or modify the decision for approval and thus recover the incentives from the recipient or adjust them accordingly.
If, following completion of the project, the loan agreement is terminated by the Bank, TEMPME S.A. will no longer pay interest to the bank for category A incentives. In any case, the decision for approval is not cancelled and E.T.E.AN. A.E. does not recover already granted incentives from the recipient.
If, at any project implementation stage or following completion of the project, it is determined that the eligibility terms and conditions of the project have not been complied with, E.T.E.AN. A.E. takes all necessary actions to cancel the decision for approval and thus recover the incentives from the recipient.