Where Victorian Managed Insurance Authority (VMIA) approves a risk management partnership project the client (‘organisation’) must enter into a formal funding agreement with the VMIA complying with the terms and conditions set out below. Funds cannot be transferred to the organisation until the funding agreement has been fully executed.
The agreement outlines the terms and conditions for distribution of funds to the organisation, including the reporting timeframes and pre-conditions of continued funding.
- Timely commencement of the project.
- Appropriate financial and project management, including the provision of regular status reports.
- The production of a final report and evaluation of the project against its aims and objectives.
- Any intellectual property developed as part of this project will be available for the use and dissemination by VMIA.
Please note, VMIA will provide funding quarterly in arrears upon the achievement of project milestones and receipt of progress reports, unless otherwise agreed.