CHAPTER IIMinimum requirements to be included in PPP agreements funded by European Structural and Investment Funds support for rural development and support under Regulation 508/2014 (Article 64(4) of Regulation (EU) No 1303/2013)

Article 5Reporting and audit trail

1.

The PPP agreement shall contain provisions on the establishment of a reporting and document retention mechanism. This mechanism shall contain the same reporting and document retention obligations as those of the beneficiary who incurs and pays himself for expenditure that is eligible under Article 65 of Regulation (EU) No 1303/2013.

F12.

The PPP agreement shall include procedures to ensure the adequate audit trail as set out in Article 25 of Commission Delegated Regulation (EU) No 480/20142. These procedures shall in particular allow for the reconciliation of the payments incurred and paid by the private partner for the implementation of the operation with the expenditure declared by the beneficiary to the Managing authority.