A contract is signed between the Research Council and the host institution on behalf of the receiver of a grant. The contract includes rules for the grant and financial details.

The Research Council must be informed prior to any major changes compared to the project proposal.

Funds are transferred annually. The first amount is transferred when the project starts.

15 % of the grant is withheld until the final report has been received by the Research Council. For PhD projects 15% of the final year's budget will be withheld.


If the project runs for more than one calendar year, the beneficiary is required to deliver an annual financial report and status report on the project no later than March 1 for the previous calendar year. The final financial and project report must be submitted to the Research Council no later than 3 months after the project ends.

Annual statement and interim report NB New form January 2020.

Final report

Innihaldið er ikki tøkt, tí tað hevur marknaðarførings farspor, sum tú ikki hevur góðtikið. Trýst her fyri at góðtaka marknaðarførings farspor.