The approved Grant will be disbursed on a reimbursement basis, upon
achievement of the key performance indicators (KPIs) as submitted in the
relevant proposal(s) and approved by HPB. Scheme participants are
allowed to submit for reimbursement on a 6-monthly basis (mid year and
final year claims). Scheme participants have to engage an external
auditor at their own cost to audit the claims before submission to HPB.
The Applicant is required to indicate two types of KPIs in each
proposal:
- Activity KPI(s); AND
- Outcome KPI(s).
For milestones completed in the first 6 months of the qualifying period,
scheme participants will be able to claim up to 64% of the cost of each
approved activity under the Activity KPI(s). The remaining 16% of the
cost of each approved activity under the Activity KPI(s) will be
disbursed at the end of the 1-year qualifying period upon satisfactory
fulfilment of the Outcome KPI(s). Costs incurred under the Ingredient
Thematic Promotion category should also be included in the submission of
claims every 6 months.
The following documents will need to be submitted (in softcopy) within 2
months from the end of the claim cycle*:
- All Quarterly Sales and Progress Reports, including Distributor
Reports
-
Special Purpose Audit report by External Auditor - The special
purpose audit shall be conducted by an independent certified
public accountant, registered with ACRA, in a public accounting
corporation, accounting firm or accounting LLPs. The external
auditor shall express their independence and compliance with
ethical requirements for the special purpose audit on the face
of the report to be submitted to HPB. External auditors will be
engaged by scheme participants at the scheme participants’ own
costs.
- HPB’s prescribed grant claim form
- Statement of claims showing a summary of all the cost items that
scheme participants are claiming for
- Any other documents required by HPB
HPB will disburse the claim within 3 months of receiving the full and
error-free set of claim documents.Successful applicants should refer to
the Grant Letter received for more information and submission
requirements.
*The term “claim cycle” refers to every 6-month period.