Export Trade Assistance Program Terms & Conditions
By submitting the Export Trade Assistance application (the “Application”), the applicant (the “Business”) agrees to the following Terms and Conditions if the Business is approved to receive financial assistance (the “Grant”). These Terms and Conditions, the Application and the Export Trade Assistance Guidelines constitute the entire agreement between Innovation PEI and the Business (the “Agreement”).
The Grant will be calculated based on estimated Eligible Costs to a maximum Grant amount that will be identified by Innovation PEI within the Grant approval notification.
The Grant will be calculated at the following rates of Eligible Costs:
Trade Related Activities at up to 40% of Eligible Costs for participation in an Innovation PEI Global Trade coordinated trade activity;
Virtual Trade Related Activities at up to 40% of Eligible Costs, to a maximum of $3,000 in Innovation PEI financial assistance per activity. Innovation PEI reserves the right to limit to three such activities annually, per business;
Incoming Buyers Assistance at up to 75% of Eligible Costs, to a maximum of $3000 in Innovation PEI financial assistance per activity. Innovation PEI reserves the right to limit to two such activities annually, per business.
Payment will be based on actual Eligible Costs as evidenced at the time of the Request for Payment and as approved by Innovation PEI, but in no event will payment exceed the maximum Grant amount.
“Business” means the business identified in the Application form.
“Grant” means the financial assistance approved by Innovation PEI for Export Trade Assistance.
“Project” means the specified export and trade related activities, work, or undertaking described in the Application.
“Eligible Costs” means those reasonable and proper costs of the Project that have been accepted by Innovation PEI in accordance with generally accepted accounting principles, excluding the following items:
- HST or any other federal or provincial tax which may be eligible to be fully or partially refunded;
- Any portion of the cost or service that, in the opinion of Innovation PEI, exceeds the fair market value;
- Any cost or portion of costs that exceed the maximum eligible costs for specific activities;
- Any cost for more than two business representatives per approved trade activity;
- Any cost for more than two Incoming Buyers per approved visit; and
- Any cost that is not specified as eligible in the “What activities and costs are supported” section of the Export Trade Assistance Guidelines.
Eligible Costs can be reviewed here.
“Request for Payment,” means the completed Export Trade Assistance Survey, completed claim form and a copy of each supplier invoice and proof of payment for each Eligible Cost. The cost of meals is based on a per diem and does not require invoices.
- Payment of the Grant will be subject to the Business completing the activities identified on the Application and fulfilling the requirements of this Agreement.
- The Grant will be disbursed once the Business has submitted a complete Request for Payment to Innovation PEI.
- The Grant will be paid using direct deposit provided that the Business supplies complete and accurate business banking information.
3. ADDITIONAL CONDITIONS
In addition to the foregoing, the Business agrees to the following conditions:
- An application must be submitted before any financial or legal commitment is made on the project; Innovation PEI may decline to contribute to any cost incurred prior to the receipt date of an approval notification;
- Complete and submit the Export Trade Assistance Survey within five (5) business days after the end of the Project.
- Submit a Request for Payment to Innovation PEI not later than six (6) months after the Project end date. If the Request for Payment is not received by Innovation PEI within six (6) months from the Project end date, the Business will be deemed to have declined the Grant and may have no future claim to payment of the Grant.
- Release of information relating to the funding of this Project may be made by Innovation PEI under the Terms and Conditions of this Agreement. No announcements may be made by the Business without written approval of Innovation PEI.Ensure all necessary clearances, permits, licenses, etc., as required by applicable Federal, Provincial, and Municipal regulatory bodies and agencies are in order.
- No member of the House of Commons of Canada, Senate or the Legislative Assembly of Prince Edward Island shall be admitted to any part or share of this Agreement, or to any benefits that arise there from.
- To preserve and keep available for audit, the books, accounts, and records of the expenses of the Project for 36 months after the completion of the Project and the Business will permit an authorized representative of Innovation PEI reasonable access to the same for the purpose of an audit, and supply such statistical data as may be required by Innovation PEI.
- If a Business is approved for a Grant and subsequently defaults on a financial obligation to any Department or Agency of the Province of Prince Edward Island, payment of the grant will be issued:
- Firstly, to the Department or Agency of the Province of Prince Edward Island any amount that is owing as a result of the defaulted financial obligation; and
- Secondly, to the Business.
- Should the Business fail to abide by any of the conditions under this agreement, Innovation PEI may require that the Grant be repaid on demand and any unpaid amounts may be revoked.
- To indemnify and save Innovation PEI harmless from all claims, demands, actions, and causes of action of third parties that may arise out of this Project.
4. OTHER ASSISTANCE
The Business will inform Innovation PEI promptly in writing of any further Federal, Provincial, Municipal or other outside assistance to be received for the Project, and Innovation PEI shall have the right to adjust the amount of the Grant to take into account the amount of any such further assistance that is to be received.
This agreement shall be governed by and construed according to the laws of the Province of Prince Edward Island and the federal laws of Canada applicable therein, and no action or proceeding shall be brought to construe or enforce this Agreement except in those courts having jurisdiction in the Province of Prince Edward Island.
6. FREEDOM OF INFORMATION AND PROTECTION OF PRIVACY ACT
Information contained in and collected in relation to this Agreement is subject to, and will be treated in accordance with, the Prince Edward Island Freedom of Information and Protection of Privacy Act R.S.P.E.I. 1988, Cap. F-15.01 (the “FOIPP Act”). Any information provided in respect of this Agreement may be subject to release under the FOIPP Act.
The amount of the Contribution may be disclosed at the discretion of Innovation PEI and in accordance with the FOIPP Act. For additional information contact Innovation PEI or see https://www.princeedwardisland.ca/en/information/justice-and-public-safety/foipp-frequently-asked-questions