average collection period | collection period | collection period of receivables | collection ratio | days accounts receivable outstanding | days receivable outstanding | days' sales in receivables | debtor collection period | debtor days ratio | number of days' sales in accounts receivable

average payment period | creditor days ratio | days accounts payable outstanding | days payable outstanding | days purchases in accounts payable | days purchases in payables | number of days' purchases in accounts payable

collection period of receivables [ average collection period | average collection period of receivables | average collection period of accounts receivable | number of days' sales in accounts receivable | days' sales in receivables | accounts receivable collection period | collection period | days receiv ]

collection period of receivables | collection period | average collection period of receivables | average collection period | days receivable outstanding | debtor days ratio | number of days' sales in average receivables | collection ratio | daily sales outstanding | DSO

days' sales outstanding

number of days' purchases in average payables [ creditor days ratio | days purchases in accounts payable | days cost of sales in payables | average payment period ]

4. Notes with concern that the lower rate for payment appropriations still reflects delays in budget implementation, although the rate improved in comparison to the previous year (75 %); acknowledges that these issues mainly result from the delays in the implementation of activities as well as the length of time that elapses between the publication of calls for proposals and the signature of grant agreements; notes in this regard that as of December 2013, only 14 out of the 38 grant agreements had been signed, with an average signature time of nine months from the time of the call and five months from the end of the negotiations;

8. Notes, furthermore, that out of the EUR 125,5 million commitment appropriations available for operational activities, EUR 17,6 million was implemented as a global commitment for the first 2012 call for proposals and EUR 107,9 million was implemented as a global commitment for the second 2012 call for proposals; observes that the average time between the launch of a call and the signing of agreements was 12 months; expects that this time frame is reduced for further calls;

2. Expresses concern that the low rate for the payment appropriation reflects delays in the implementation of the Joint Undertaking's activities include significant delays between the publication of the calls for proposals and the signature of the grant agreements; urges the Joint Undertaking to implement the necessary measures to avoid such delays reducing the average time between the publication of the call for proposals and the signature of the Joint Undertaking grant agreements from the 291 days of the first call of 2011;

notwithstanding national rules on providing credit by credit cards, the credit granted in connection with a payment and executed in accordance with Article 11(9) and Article 28 shall be repaid within a short period which shall in no case exceed 12 months.