Memorandum of Understanding
The Signatories to this Memorandum of Understanding, declaring their
common intention to participate in the concerted Action referred
to above and described in the Technical Annex to the Memorandum,
have reached the following understanding:
The Action will be carried out in accordance with the provisions
of document COST 400/01 "Rules and Procedures for the
Implementing COST Actions", the contents of which the
Signatories are fully aware of.
The main objective of the Action is to investigate how carbon
reductions can be achieved through approprieate design and
management of the urban built environment.
The economic dimension of the activities carried out under the
Action has been estimated, on the basis of information available
during the planning of the Action, at Euro 12 million in
2004 prices.
The Memorandum of Understanding will take effect by being signed
by at least five Signatories.
The Memorandum of Understanding will remain in force for a period
of 4 years, calculated from the date of the first MC meeting,
unless the duration of the Action is modified according
to the provisions of Chapter 6 of the document referred
to in Point 1 above.
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