Undertaking by Successful Applicant

A successful Applicant (Grantee) will be required to sign an undertaking to undertake and warrant that it will, among other things,

1. (a)arrange proper disbursement of the PSP subsidy to eligible participating professionals upon receipt of the lump sum PSP subsidy from the Government;


2. (b)bear any costs or expenses whatsoever to be incurred by itself in connection with receipt of the lump sum PSP subsidy from the Government and disbursement of the PSP subsidy to eligible participating professionals; and


3. (c)return the undisbursed residual PSP subsidy to the Government, if any.

Undertaking

After signing of the undertaking, the Government will disburse the lump sum PSP subsidy through payment to the Grantee’s bank account or by an order cheque bearing the full name of the Grantee.