Ontario Centres of Excellence (OCE) will release proportional amount up to 30 per cent of the OCE commitment upfront.
Subsequent payments will be released when the following are fulfilled:
- Submission and approval of progress and finance reports
- Expenditures at or above the OCE funds released
- Confirmation of partner’s payment at or above the OCE funds released
- Submission of finance attestation by the College finance department
Release of subsequent payments from OCE will also be dependent on the expenditure of industry partner contribution.
A holdback of 10 per cent will be released upon approval of project final report.