Glossary

Find an explanation of most used terms in relation to financial instruments

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Title	Term Definition
Management costs and fees	Management costs refer to direct or indirect cost items reimbursed against evidence of expenditure. Management fees refer to an agreed price for services rendered established via a competitive market process, where applicable. Management costs and fees are based on a performance based calculation methodology.
Managing authority	A national ministry/regional authority/local council, or another public or private body responsible for the efficient management and implementation of an operational programme.