The contributing third party payment is a transaction between a third party (that is neither the applicant organisation nor Viridor Credits) and Viridor Waste Management.
For more information on the contributing third party payment, click here.
How is the Contributing Third Party Payment Calculated?
The contributing Third Party payment is the equivalent to 10% of any funds awarded. Please note that Viridor Credits will calculate the amount of contributing third party payment due on any award, and this sum will supersede any other calculated figure.
Who can be a Contributing Third Party?
Almost anyone can be a contributing third party, providing they do not gain a unique benefit from the project put forward for funding. Below is a list of examples of organisations that may be contributing third parties:
- Private companies
- Public sector organisations - Local authorities, County councils
- Voluntary organisations
- Private donors
- Monies from fundraising
Who is excluded from being a Contributing Third Party?
- Any individual or organisation directly connected to the landfill operator, Viridor, or a contractor of the project
- Any individual or organisation who gains a unique benefit from the project
- Other environmental bodies - see guidance issues by ENTRUST for further information visit www.entrust.org.uk
Q: When should I make the Contributing Third Party (CTP) payment?
A: The CTP 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 Viridor Credits 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 £450.00 and £4,500 will be available to the project from Viridor Credits.
Q: I am applying for 100% funding from Viridor Credits. 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 CTP payment cannot come out of the award from Viridor Credits and must be paid by an independent third party or through fundraising.
Q: Is the CTP payment refunded on the completion of my project?
A: No. The Contributing Third Party payment is not deducted from the award from Viridor Credits, does not form part of the total project cost and is not refundable. If any portion of your award is withdrawn, then the CTP payer will receive back a proportion of the CTP payment.