Section 6Part 0 —
Government to pay fixed sum to commercial partner in tranches
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The Cayman Islands Government, in accordance with subsection (2), shall pay to the commercial partner a fixed sum authorized by and appropriated in accordance with the Public Management and Finance Act (2020 Revision), for the purposes to be delivered under the project for the duration of the project.
For the purposes of subsection (1) —
the Cayman Islands Government shall pay the fixed sum in several tranches over the duration of the project; and
each tranche shall be disbursed to the commercial partner in accordance with the terms of the agreement.
Cross References
- Section of Public Management And Finance Act
Public Management and Finance Act (2020 Revision)