The new Act governs the following: 1. National institutional basis for financial resources management of the European structural and investment funds (the ESI Funds); 2. The conditions of providing the grant financial assistance (GFA); 3. Special rules, which the beneficiaries of the GFA must follow in order to determine a contractor; 4. Rules for verification and certification of the permissible costs and for execution of the payment and financial corrections.
Financial resources of the ESI Funds as those from the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund, provided by an operative programmes to Republic of Bulgaria.
The contracts, which are concluded for rendering the abovementioned financial resources, are administrative contracts and for this reason they represent an individual administrative act. Thus, the arising disputes regarding these financial resources have to be resolved before the administrative courts under the Administrative procedure code, which will unify the contradictory interpretations for resolving such disputes until the moment when the new Act shall come into force.
