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Date: Augustus 15, 2008 Agreement # KR-54 Mrs. Niermala Hindori- Badrising Director Country Led Initiative (CLI) conference management Kleine Combé 2-4 Paramaribo, Suriname Dear Mrs. Hindori: It is my pleasure to inform you that World Wildlife Fund, Inc., (WWF), on behalf of itself and of the international network of WWF organizations, is pleased to offer the attached Grant (KR-54) to CLI conference management to support awareness program as described in the attached proposal (Attachment 1) and budget (Attachment 2). WWF wishes you every success in this important conservation endeavor. Sincerely, Dominiek Plouvier WWF Guianas Regional Representative Agreement No. KR-54 August 15, 2009 Page 2 WORLD WILDLIFE FUND, INC., ("WWF") GRANT AGREEMENT A. NAME OF GRANTEE: Country Led Initiative (CLI) conference management Address: Kleine Combé 2-4, Paramaribo, Suriname B. NAME OF PROJECT: Awareness Program (See Detailed Project Description, Attachment 1) C. TERM OF GRANT: Starting Date: August 1, 2008 Ending Date: September 30, 2008 (Subject to the incorporated Terms and Conditions, including Paragraph 8) D. AMOUNT OF GRANT: The total anticipated amount of this Grant is Forty Two Thousand and 00/100 SRD (SRD 42,000.00).WWF hereby commits the total amount of Forty Two Thousand and 00/100 SRD (SRD 42,000.00) as payment for documented allowable costs for FY09 as set forth in the detailed budget in Attachment 2. Under no circumstances shall WWF be obligated for reimbursing Grantee for costs in excess of the committed amount Forty Two Thousand and 00/100 SRD (SRD 42,000.00) under this Project unless this Agreement is modified to increase the amount. E. FUNDING SOURCES: Dutch Embassy, Agreement # 16584 F. TRANSMITTAL OF FUNDS: By Checks in the name of the Grantee: G. PAYMENT PROVISIONS 1. Upon receipt of a signed copy of this grant agreement, WWF will disburse an initial amount of SRD 39,900.00 (Thirty Nine Thousand Nine Hundred and 00/100 SRD). a. The final payment will be disbursed after receipt and acceptance of the final deliverables based on the final expenditures and reconciliation of any funds advanced. Agreement No. KR-54 August 15, 2009 Page 3 Yes No X : WWF will purchase the equipment specified in the Detailed Budget, Attachment 2, on Grantee's behalf in the amount of $ for delivery to the Grantee. H. PERSONS DESIGNATED TO ACT ON BEHALF OF PARTIES 1. WWF TECHNICAL DIRECTOR: Jerrel Pinas, WWF Guianas Communication Officer in Suriname 2. GRANTEE CONTACT: Niermala Hindori- Badrising, Director CLI conference management I. DELIVERABLES: 1. Interim (or) technical reports N/A 2. Final technical report Period: August 1, 2008 through September 30, 2008 Due: October 15, 2008 This report includes a list of carried out activities; a copy of the TV programs on DVD; a copy of radio programs on CD and a report after execution of activities containing an evaluation of the carried out activities, results, constrains and suggestions. 3. Interim signed financial reports N/A 4. Final signed financial report with original receipts Period: August 1, 2008 through September 30, 2008 Due: October 15, 2008 5. Other work products: All prepared materials and reports produced under this project. See paragraph I. 2 Due: October 15, 2008 6. An equipment inventory list: N/A 7. Audit: N/A J. SPECIAL PROVISIONS: 1. Executive Order on Terrorism Financing: The Grantee is reminded that US Executive Orders and US law prohibits transactions with, and provision of resources and support to, individuals and organizations associated with terrorism. It is the legal responsibility of the Grantee to ensure compliance with these Executive Orders and laws. This provision must be included in all subcontracts/subawards issued under this Agreement. Agreement No. KR-54 August 15, 2009 Page 4 This Agreement includes the attached Terms and Conditions (Appendix A) and additional Standard Grant Provisions for Dutch Embassy (Appendix B). Together, these elements constitute the entire agreement between the parties on this subject matter. All modifications to this Agreement must be in writing and duly executed by all parties. ORDER OR PRECEDENCE: Any inconsistency in this Agreement shall be resolved by giving precedence in the following order: (a) the Additional Provisions for Government/MLO or Other Funded Projects; (b) Grant Agreement; (c) the Detailed Budget; (d) the Detailed Project Description To acknowledge acceptance of the terms and conditions of this Agreement, including the terms and conditions of all Attachments and Appendices hereto, please sign both originals in the space indicated below and return one signed original to WWF. Please retain one original and any attachments for your records. Authorized by: Accepted by: World Wildlife Fund, Inc. Country Led Initiative (CLI) conference management) by by _________________________ Dominiek Plouvier Mrs. Niermala Hindori- Badrising WWF Guianas Regional Representative Director CLI conference management Date: Date:_____________ Attachment 1 Project Proposal Attachment 2 Summary/Detailed Budget Appendix A Terms and Conditions Appendix B Arrangement between the Netherlands Minister for Development Cooperation and World Wildlife, Fund, Inc. Agreement No. KR-54 August 15, 2009 Page 5 ATTACHMENT 1 WWF GUIANAS PROGRAM OFFICE Proposal Project Title Awareness Program Project Paramaribo Location Organization CLI conference management Name of N. Hindori- Badrising Director Address Zwartenhovenbrugstraat 229 Paramaribo - Suriname Name of Project Roseline Daan Coordinator Title Awareness program Endorsement Collaborating GoS Partners Implementatio 01 August 2008 tot en met 30 September 2008 n Period Project Goal To create awareness on forest and environment issues through the use of video and radio productions and other media sources. Budget in Local Total: SRD 42.000 (USD15,000) Currency WWF: SRD 42.000 Other Donors : - Own: - (USD15,000) Agreement No. KR-54 August 15, 2009 Page 6 I. Executive Summary The awareness building project The Government of Suriname (GoS) has requested support from national and international organizations to work on an integrated approach with an interactive and iterative process in order to prepare the CLI meeting on Sustainable Forest Management coming September. For the consensus and awareness building the promotion of programs is necessary. ID Media Plus has promoted programs since 2003 successfully with the broadcasting of TV en radio productions, news articles and other forms of media sources. To achieve these goals ID Media Plus will work in close collaboration with various ministries, national and international institutions, consultants and other possible key stakeholders. ID Media Plus will therefore undertake all necessary actions to obtain the objective of this project such as the review of all necessary documents, meet with government officials, consultants, members of the Presidential Task Force, workers from international organizations, etc. One of the most important tools for the success of this project is to broadcast the information in a way that people can recognize and express themselves. II. Narrative Background Generally people in Suriname have limited access to information on forest especially the part of the financial capacity on sustainable forest management and the national legislative and regulatory framework. The provision of general information is a must. This regards information related to the implementation of the communication strategy and media campaign or otherwise increasing of the knowledge concerning the various phases within this matter. There also seems to be a great need of specific information. This form of information will be based on education/information programs related to: Relevant aspects with regard to the values of forest management and environmental issues Description of the necessity of maximum participation of the community The tasks and role of organizations involved in forest management activities in whatever way This project is therefore designed to educate people via the use of film and interactive information materials. Agreement No. KR-54 August 15, 2009 Page 7 B. The Institution ID Media Plus strives to achieve the following goals: - Contribute to the participation of the society in the process of forest management and there to related activities - Contribute to an efficient and reliable availability of relevant information in this regard - Contribute to setting up an adequate communication structure with and among the public and the specific ministries national and international organizations - Contribute to the proper implementation of education/information programs in order to improve the awareness of people and to reduce the lack of interest about this issue - Contribute to setting up a communication network for relevant actors The activities in this regard shall therefore be focused on: a) Raising awareness within the society via television, radio, internet and newspapers b) Raising awareness of target groups c) Promote peace building initiatives C. Project Justification A big focus for the awareness project is to bring back the interest in topics about forest. The government has recognized the importance of this issue for the development of the individual and for the country as a whole. The Government has also recognized how important it is to teach the general public about various realities that are present inside the country and throughout the world. Media is recognized as an important vehicle for bringing information to the people and teaching citizens about the everyday challenges and hardships and social, political and economic global trends. Because of the sole reliance on financial means, the government has to work with a limited budget. Because of the low budget, the extra funding for the promotion on forest management is needed. Nowadays there is little attention in forest related issues. Surinamese media personnel lack sufficient skills to produce won programs, because most of the media workers are self-made. Another aspect is that because of the heavy workload there is insufficient time to be creative as a media worker. People barely know anything about the upcoming Country Led Initiative and less about their own forest management structures. Therefore they don’t have a clear idea about the importance of sustainable forest management. Agreement No. KR-54 August 15, 2009 Page 8 III. Goal and Objective(s) A. Goal The goal of this project is to create awareness on forest and environment issues through the use of film and radio. B. Objective(s) 1. To help people realize that good forest management is essential for good health and development 2. To encourage young and old to fully participate in forest conservation. 3. To provide stakeholders with the tools to support environmental conservation. IV. Expected Outputs Outcome: 1. A community that will be better informed about sustainable forest management 2. Increased awareness within the society 3. Tuning in of inputs of information towards special target groups within the community 4. Improvement of communication or flow of information to the community Expected outputs: 1. A generous amount of strategic key persons participate in the awareness program with knowledge and information about forest and environment. They get the opportunity to explain the necessity of sustainable forest management, and participate in interviews on this issue. The general public also gets the chance to watch video productions of WWF. 2. The Surinamese people become acquainted with WWF Guianas and its work on forest conservation. 3. Raise awareness on specific environmental issues in the general public in Suriname. V. Project Activities 1. Screening of the scripts. 2. Production of information packages for key stakeholders VI. Project Implementation: A. Strategies, Approaches or Methodologies The films will be screened to the general public. One film will be on legislation and policy for sustainable forest management Agreement No. KR-54 August 15, 2009 Page 9 The second film is produced will present the Suriname Case Study. Local consultants will provide information about forest financing and the way forward. The third film will focus on the CLI meeting and the role of international organizations such as the WWF within. The general public will be encouraged to watch the programs through commercials and the information packages which they would have received some time before. B. Implementation Schedule From August 3rd to September 30th the films will be shown at specific TV and radio stations. C. Monitoring and Evaluation 1. Scripts to be screened for the awareness program 2. Copy of the DVD’s and CD’s and information package to be provided to key persons D. Key Personnel Stakeholders from the forest sector The outline of the scripts is made by two experience scriptwriters and program-makers. Monitoring will be done ID Media Plus with an evaluation at the end of the project. ID Media Plus and staff have a track record of four years in doing similar programs with international organizations. E. Project Administration and Financial Management ID Media Plus has a financial administrator with one junior employee assisting him. F. Institutional Strengthening The staff of ID Media Plus consists of seven people with a good track record in the implementation of projects for UNICEF, UNFPA, PAHO and other national and international institutions. VII. Sustainability Criteria (Outcomes) ID Media Plus is established in 2003 and has recognition from national en international institutions like various departments of the Surinamese Government, the Unicef, Paho and the UNFPA. Agreement No. KR-54 August 15, 2009 Page 10 VIII. Assumptions Departments within the Government of Suriname and the target groups are willing to participate in the awareness program. Agreement No. KR-54 August 15, 2009 Page 11 IX. Logical Framework SUMMARIES VERIFIABLE MEANS OF IMPORTANT INDICATORS VERIFICATION ASSUMPTIONS Goal: The goal of this project is All stakeholders and public Number of reactions provided General public understand the to create awareness on through e-mail or telephone messages provided in the films sustainable forest management, message. and radio programs. environment and policy issues through the use of film, radio, newspapers and other media sources. Activities: Screening of scripts of the People understand the Copies of the films are available programs for the general public message. with the schedule of screening. Production of information Information packages are Information packages are packages for the general public, provided to students and available. to be distributed at the working workers. place and schools. Agreement No. KR-54 August 15, 2009 Page 12 X. Reporting Technical At the end of the project the Project Coordinator of ID Media Plus will provide to the Conference Management Team and WWF Guianas the following: List of activities carried out. A copy of the tv programs on DVD. A copy of the radio programs on CD. A report after execution of activities containing an evaluation of the carried out activities, results, constrains and suggestions. Financial At the end of the project a financial report will be presented to WWF Guianas in WWF template with original invoice and receipts. Agreement No. KR-54 August 15, 2009 Page 13 ATTACHEMENT 2 BUDGET WWF Guianas summary budget in SRD Line item Description Aug. 2008 Sept.2008 Total A Personnel - - - B Third parties fees & expenses 21,000 21,000 42,000 C Field activities - - - D Travel and workshop - - - E Other Direct Cost - - - F Equipment - - - GRANDTOTAL 21,000 21,000 42,000 Agreement No. KR-54 August 15, 2009 Page 14 WWF Guianas detailed budget in SRD Line item Description Aug. 2008 Sept.2008 Total A Personnel - - - B Third parties fees & expenses Third parties fees B1 ID Media fees: B1 Fees Management & administration 3,000 3,000 6,000 Subtotal 3,000 3,000 6,000 Third parties expenses B2 ID Media expenses: B2.1 Expenses for field activities 2,500 2,500 5,000 B2.2 Transportation, Materials & Technicians 4,750 4,750 9,500 B2.3 Commercial expenses 750 750 1,500 B2.4 Coverage CLI meeting 4,000 4,000 8,000 B2.5 Banners & Logo 3,000 3,000 6,000 B2.6 Photo's CLI Meeting 3,000 3,000 6,000 Subtotal 18,000 18,000 36,000 Total 21,000 21,000 42,000 C Field activities - - - D Travel and workshop - - - E Other Direct Cost - - - F Equipment - - - GRANDTOTAL 21,000 21,000 42,000 Agreement No. KR-54 August 15, 2009 Page 15 APPENDIX A TERMS AND CONDITIONS 1. Use of Funds. 1.1 Except as otherwise agreed in writing by World Wildlife Fund, Inc. (hereinafter "WWF"), Grantee agrees to carry out the Project Activities and to use funds provided under this Agreement ("Funds") solely for Project Activities. 1.2. Only expenditures for reasonable, approved, and documented costs as identified in the Project Budget are allowable. All expenditures must be incurred during the period of the Agreement. All salary costs funded by government aid agencies must be supported by adequate documentation. Grantee may reallocate the amounts designated for any major budget category in the approved budget upon written notification of WWF if the scope of the project remains unchanged, unless disallowed by a Primary Donor. However, purchases of any equipment, increase of the salary budget category, use of consultants or subrecipients, air travel other than economy class, or creation of major budget categories not approved in the original budget require prior written approval from WWF. 1.3 Grantee agrees that none of the Funds will be used to attempt to influence legislation or the outcome of any public election or to undertake any activity for a purpose that is not exclusively charitable, scientific, literary, or educational. 1.4 Grantee agrees to return to WWF any unexpended portion of the Funds at the expiration or earlier termination of this contract. 1.5 Any funds provided under this Agreement in U.S. Dollars which are exchanged to local currency must be exchanged at the best available rate through the channels authorized by applicable laws and regulations. Transactions must be verified through bank receipts or other documentation sufficient to demonstrate the legality of such transactions. 2. Lobbying. Unless WWF otherwise consents in writing, Grantee agrees that no Agreement funds will be used for lobbying. "Lobbying" is defined as communications directed to government officials (or which encourage other persons to contact government officials) and which state or strongly imply a position on specific legislation. 3. Financial Records. Grantee agrees to keep separate and accurate financial records in accordance with generally accepted accounting principles and procedures so that payments received and expenditures made pursuant to this Agreement can be readily identified. Grantee agrees to maintain such records for a period of at least three (3) years after the expiration or earlier termination of this Agreement. These financial records must include receipts for expenditures in excess of $25. 4. Audits. Agreement No. KR-54 August 15, 2009 Page 16 4.1 The books of account and other financial records of Grantee that are relevant to this Agreement shall at all reasonable times be available for inspection, review, and audit by WWF and the Primary Donor (if identified herein). 4.2 Grantee agrees to reimburse WWF, at Grantee's sole expense, the amount of any expenditures disallowed by auditors, through an audit exception or other appropriate means, based upon a finding that such expenditures failed to comply with a provision of this Agreement. 5. Copyrights, Etc. The term "Works" shall refer to all works of authorship created by Grantee pursuant to this Agreement, including, but not limited to, films, photographs, graphic works, video recordings, computer programs and computerized materials, books, articles, writings, and audio recordings (and all materials embodying such works of authorship) whether produced during or after the term of this Agreement. Grantee shall own all right, title and interest in the Works; however, WWF and the Primary Donor, if identified herein, shall have a perpetual, nonexclusive, royalty-free license to use the Works, including their modification and/or reproduction, in whole or in part. 6. Credits and Public Awareness. 6.1 Grantee agrees to acknowledge WWF , and the Primary Donor if identified herein (see Appendix B), whenever Grantee writes an article or report, participates in an interview with the media, gives a lecture, or otherwise makes a public appearance with respect to projects covered by or significantly relating to this Agreement, unless otherwise agreed by the Technical Director. 6.2 Grantee agrees to provide WWF with copies of all written materials that mention or relate to the Project Activities, including those published after the report due dates or grant expiration date. 6.3 Grantee agrees that any use of the WWF panda logo will comply with the following restrictions: (a) Grantee agrees to display the WWF logo stickers provided by WWF on any permanent equipment purchased with grant funds, where the size and nature of such equipment make the display practicable. (b) Grantee may display the WWF panda logo on the cover or title page of noncommercial publications written and issued by Grantee as a result of Project Activities. Any such display must, however be accompanied by the words "Assisted by WWF" and must not give the impression that the publication is issued or endorsed by WWF. (c) Except as permitted by (a) and (b) above, Grantee agrees not to make any use of the WWF panda logo except as expressly authorized in writing by WWF. Agreement No. KR-54 August 15, 2009 Page 17 6.4 Notwithstanding the preceding paragraphs, Grantee shall immediately cease to use the WWF panda logo and the name of WWF, orally or in writing, in connection with the project activities in any public context, upon WWF's written request, whether made during the term of this Agreement or thereafter. 7. Relationship of Parties. The relationship between WWF and Grantee is solely that of grantor and Grantee. WWF and Grantee are not engaged in an employer-employee relationship, partnership, joint venture or agency contract of any kind. Neither party has authority to create any obligations, express or implied, on behalf of the other. 8. Termination. 8.1 (a) For Cause. If WWF shall determine at any time that Grantee has failed to comply with any term of this Agreement, WWF may thereupon terminate the Agreement, in whole or in part, by giving written notice to Grantee. Such notice shall become effective upon receipt. (b) For Convenience. For its convenience, WWF may terminate this agreement at any time by giving written notice to Grantee. Such notice shall become effective thirty (30) days after its receipt. 8.2 WWF shall not be obligated to pay for any expenses incurred by Grantee after the effective date of any notice of termination. Upon its effective date, Grantee shall stop work and take all reasonable steps to preserve and protect all work product produced to date and comply with instructions from WWF as to the disposition thereof. Upon termination, Grantee shall promptly submit to WWF a final technical report, a final financial report, and any unexpended project funds. 9. Indemnification. Grantee hereby indemnifies WWF, together with its officers, directors, employees, and agents, against any claims, losses, damages, and other liabilities (including reasonable attorney's fees and other expenses), arising in connection with this Agreement, except to the extent the claim, loss, damage, or other liability is due to the fault of WWF. 10. Special Expertise; Direct Control. Grantee recognizes that Grantee's special expertise was important in inducing WWF to enter into this Agreement. Unless WWF otherwise consents in writing, Grantee will maintain direct control over all Project Activities and will be the primary contributor to accomplishing the objectives set forth in the Proposal. 11. Arbitration. Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration before one (1) arbitrator in Washington, D.C., in accordance with the Commercial Arbitration Rules of the American Arbitration Association in effect at the time of commencement of the arbitration, and the parties agree that judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Agreement No. KR-54 August 15, 2009 Page 18 12. Controlling Law. This Agreement shall be deemed a contract made under, and shall be construed and enforced in accordance with, the laws of the District of Columbia, U.S.A., applicable to contracts fully executed and performed therein. 13. Taxes. Grantee shall be liable for all taxes arising out of payments made to Grantee pursuant to this Agreement. 14. Compliance with Laws. Grantee agrees to comply with all applicable laws, including all local labor and social laws. Further, Grantee accepts sole responsibility for any claims arising from any alleged non-compliance with laws. 15. Government Officials & Employees Grantee hereby certifies that no assistance, payments, or anything of value (monetary or non-monetary), shall be made, promised, offered to or accepted by any government employee or official (1) in contravention of any U.S. or other applicable law (including, but not limited to, the U.S. Foreign Corrupt Practices Act) or regulation; (2) without the express consent of the government for which the employee or official works; and (3) that is not reasonable, bona fide, and directly related to the activities funded under this Agreement. It is Grantee's responsibility to ensure compliance with this clause, and to maintain, and provide at WWF's request, documentation demonstrating such compliance. Grantee hereby certifies that no payments or other form of assistance shall be accepted by or made to any government employee or official, including Grantee, (a) to influence any official government act or decision, (b) to induce any government employee or official to do or omit to do any act in violation of his or her lawful duty, or (c) to obtain or retain business for, or direct business to any individual or entity. If Grantee is a government official or employee, Grantee shall recuse himself or herself from any governmental act or decision affecting WWF, and shall not influence any governmental act or decision affecting WWF. Under no circumstances shall any payments or anything of value be made, promised, or offered to any U.S. Federal, State or local employee or official. 16. Waiver. The failure by either party to this Agreement to enforce any of the provisions of this Agreement shall in no way be considered a waiver of such provisions or in any way affect the validity of this Agreement. 17. Severability. In the event that any provision of this Agreement shall for any reason be held to be invalid or unenforceable by any adjudicative body of competent jurisdiction, unless such provision goes to the root of this Agreement, this Agreement shall continue in full force and effect and shall be interpreted as if such provision had never been contained herein. In the event the provision goes to the root of this Agreement, the parties shall attempt in good faith to negotiate an amendment to this Agreement as necessary to fulfill the purpose of the Agreement. 18. Force Majeure. Neither party shall be responsible for any inability or failure to comply with the terms of this Agreement due to causes beyond its control and without the negligence or malfeasance of such party. These causes shall include, but not be restricted to: fire, storm, flood, earthquake, explosion, acts of the public enemy, war, rebellion, insurrection, mutiny, sabotage, epidemic, quarantine restrictions, labor disputes, embargoes, acts of God, acts of the Agreement No. KR-54 August 15, 2009 Page 19 United States or any other government, including the failure of any government to grant export or import licenses or permits. 19. Equipment. If equipment is included in the approved budget of this agreement than title to equipment and other property will be in the name of Grantee until disposition instructions are provided by WWF at the end of the Agreement term. Grantee agrees to provide insurance for and proper maintenance of all equipment and other property funded under this Agreement. If Grantee desires to use the equipment or other property for any purposes other than for the project funded under this Agreement, Grantee must seek prior approval from WWF. 20. Subagreements. Grantee is responsible for including in any subagreement related to the project described herein all clauses and provisions necessary to fulfill Grantee's obligations under this Agreement Agreement No. KR-54 August 15, 2009 Page 20 APPENDIX B Arrangement between the Netherlands Minister for Development Cooperation and World Wildlife Fund, Inc. Whereas the Netherlands Minister for Development Cooperation, hereafter referred to as the Minister, is prepared to support the project “WWF Guianas Sustainable Natural Resources Management” with activity no. 16584, up to a maximum of three million six hundred and sixty thousand euros (EUR 3.660.000); Whereas WWF Inc., hereafter referred to as the Organisation, is prepared to take responsibility for the implementation of this project; Whereas the purpose of the project is to conserve the integrity of the forest and freshwater ecosystems of the Guianas and conserve the ecological processes responsible for their equilibrium, in such a way that their social and economic roles are preserved; The Minister and the Organisation have come to the following Arrangement: The project will be implemented as from 1st of July 2007. It will be completed by 30th of June 2011. The Organisation will be responsible for the provision of services as specified in the project document “Guianas Sustainable Natural Resources Management Project 2007-2011, dated June 2007. The Organisation will make every possible effort to ensure timely and full implementation of the project. No changes may be made to either the project or its implementation without the written consent of both signatories. The Minister bears no responsibility or liability vis-à-vis any third party for projects or activities administered by the Organisation and carried out pursuant to this Arrangement. 3. The Minister's contribution to the project will not exceed EUR 3.660.000 million, including project costs and project support costs, in accordance with the budget in the project document. If the contributions by FFEM and/ or WWF-NL do not materialise, the project document, including the budget, will be amended by WWF Guianas in consultation with the Minister, in accordance with article 2 hereof. 4. Funds earmarked for the project costs proper will be based on cost estimates expressed in the currency of the budget (EURO). Agreement No. KR-54 August 15, 2009 Page 21 The funds annually available to the Organisation under this Arrangement will be based on an annual plan, including an annual expenditure estimate. The annual plan and budget estimate will be submitted by the Organisation before the 1 st of September, together with the yearly financial and narrative reports from the Organisation over the preceding year. The funds will however be transferred in two half-yearly instalments. The first of the two half-yearly instalments will be based on the annual estimated expenditure, in which the first 6-monthly liquidity needs are to be specified. The second of the two half-yearly instalments will be based on a separate specification of actual liquidity needs for the next six months, to be submitted by WWF Guianas before the 1st of March each year. The first instalment of EUR 600.000,= , as an advance payment for the first nine months, will be transferred to the Organisation’s bank account, as specified at the bottom of the signed Arrangement, after receipt by the Ministry of duly signed and dated original of this Arrangement. 6. The Minister may determine the precise and definitive financial contribution to the project following receipt and approval of the final report and the financial accounts of the project as referred to at article 10. The Minister's contribution will be provided only for project activities which have actually taken place and will be based on the actual costs incurred. The account will be settled and a last instalment, if due, will be transferred to the Organisation within two months after the definitive contribution has been fixed. Funds which the Minister has placed at the Organisation's disposal that are left unspent after completion of the project will be returned to the Minister immediately and unconditionally. 7. Any interest accrued from temporary credit balances of project funds and/or funds remaining due to fluctuations in the EURO exchange rate will be used to supplement the project funds, in consultation with the Minister, or held at the Minister's disposal. 8. The Organisation will administer and account for the funds in accordance with its financial regulations and other applicable rules, procedures and practices and will keep separate records and accounts for the project. 9. The Organisation will provide an annual financial and narrative report in writing drawn up in English. The reports will cover the period from July to June and will be submitted before the first of September of that year. The reports should contain an overview of the project activities and a financial account, showing how the funds provided by the Minister for the project have been allocated and used. The Organisation will submit reports and financial statements and requests for payment in the currency of the budget. 10. The Organisation will submit to the Minister, no later than 31st of October 2011, a final report plus a financial statement showing the funds received and actual expenditures incurred for the project. Agreement No. KR-54 August 15, 2009 Page 22 11. In addition the Organisation will, whenever its findings warrant it, report in writing to the Minister, making recommendations, where necessary, concerning the implementation of the project. Such a report will also be submitted if the Organisation sees fit to deviate in the implementation of the activities from that specified in the project document, as referred to at article 2, or the plan of operations based thereon. 12. The Organisation and the Minister will from time to time, within the Steering Committee and/or at the request of either signatory, exchange views through their representatives with regard to the progress of the project and the progress of the relevant implementing agency in implementing the project in conformity with the anticipated schedule and project budget. 13. The Minister may, after prior consultation with the Organisation, reduce or terminate the contribution to the project. If funding is reduced or terminated, costs already incurred by the Organisation up to that date will be reimbursed and, within reasonable limits, future financial commitments entered into by the Organisation will be covered by the Minister. 14. The Organisation will arrange for yearly financial audits to be carried out by an independent auditor acceptable to both the Minister and the Organisation. Such audits should be conducted by the Organisation's external auditor. The Organisation will request the independent auditor to submit his report to the Minister within four months after the end of the fiscal year. The time frame of the fiscal year is July 1 st year X till June 30 th year X+1. 15. A midterm review at the end of 2009 and a final evaluation upon completion will be carried out by independent consultancy. The Organisation will launch the tender for the evaluation, but formulation of the ToR and the selection of the consultancy will be a joint effort of the donors involved. The Minister will have the opportunity to participate in the review, monitoring and evaluation missions with regard to the project. 16. The officers responsible for coordinating all matters relating to this Arrangement are: For the Minister: For the Organisation: Sandra Biharie Dominiek Plouvier Environmental officer Regional Representative Dept. of Development Cooperation and World WildLife Fund, Inc. Economic Affairs Royal Netherlands Embassy at Paramaribo 17. The Minister may halt payment or demand repayment of all or part of the funds transferred if contractual and/or reporting and accounting obligations are not met, or if it emerges, either from the reports referred to above or from some other source, that the funds are not being used or have not been used for the implementation of the project as agreed, or if alternative funding proves to have been obtained (either wholly or in part), thus giving rise to double-financing. Agreement No. KR-54 August 15, 2009 Page 23 18. The Organisation will require that its staff and consultants deployed on projects financed by the Minister will not offer to third parties or seek or accept from or be promised by third parties, for themselves or for any other party, any gift, remuneration, compensation or benefit of any kind whatsoever, which could be interpreted as an illegal or corrupt practice. 19. If the Organisation, other than through any fault of its own as referred to at 17, has been able to implement only part of the project, the Minister will make a fair pro rata contribution for the part of the work which has been completed. 20. If any dispute arises between the signatories concerning the interpretation, application or implementation of this Arrangement or with regard to any further Arrangement which may result there from, which cannot be settled amicably, either signatory may invite the other to conciliate under the Permanent Court of Arbitration Optional Conciliation Rules, as in effect on the date of this Arrangement. The number of conciliators will be one.