The contributing third party payment is a transaction between a third party (that is neither the applicant organisation nor Valencia Communities Fund) and Valencia Waste Management.
The amount is based on 10% of the value of the amount awarded and is the sum payable by the contributing third party to Valencia Waste Management.
Applicants must identify their contributing third party provider prior to applying, and it must be paid within one month of any offer of funding from Valencia Communities Fund.
Anyone can contribute to the contributing third party payment providing they do not gain a unique benefit from the project. Below is a list of examples:
- Private Companies
- Public Sector organisations - Local Authorities, County Councils
- Charities
- Voluntary Organisations
- Private Donors
- Monies from fundraising - this can be paid from the applicant bank account but all the donors must be aware that the money will be paid to Viridor Waste Management and we will need a letter to this effect
Who is excluded from being a contributing third party?
- Any individual or organisation directly connected to the landfill operator, Valencia Waste Management, or a contractor of the project
- Any individual or organisation who gains a unique benefit from the project
- Other environmental bodies - see guidance from Entrust. For further information visit www.entrust.org.uk
- Legacies cannot be used to pay the contributing third party
Q: When should I make the contributing third party payment?
A: The payment is due within one month of the offer of funding, and before you are able to draw down any of your award.
Q: I am applying to Valencia Communities Fund for £5,000. Does the contributing third party payment mean I can only apply for 90% of the project cost and the contributing third party payment makes up the other 10%?
A: No. Applicants may apply for 100% of the capital works cost of the project. The Contributing Third Party payment is always 10% of the award. Applying for 90% of a £5,000 project (£4,500) will require a Contributing Third Party payment of £450 and £4,500 will be available to the project from Valencia Communities Fund.
Q: I am applying for 100% funding from Valencia Communities Fund. Does the contributing third party payment mean I will only receive 90% of that amount?
A: No. If you are awarded 100% of the funding, that is what will be available to the project. The contributing third party payment cannot come out of the award from Valencia Communities Fund and must be paid by an independent third party or through fundraising specifically for this payment.
Q: Is the contributing third party payment refunded on the completion of my project?
A: No. The contributing third party payment is not deducted from the award from Valencia Communities Fund, does not form part of the total project cost and is not refundable. If any portion of your award is withdrawn, then anyone that donated funds towards the contributing third party payment will receive back a proportion of their donation.