6 months  1$^{st}$ stocktaking  meeting with the  European  Commission in  Brussels  1$^{st}$ interim report  Approval and  payment  within 60  calendar days  1$^{st}$ interim  payment  6 month + 10  days  Draft Minutes of the  1$^{st}$ stocktaking  meeting  12 months  2$^{nd}$ stocktaking  meeting with the  European  Commission in  Brussels  2$^{nd}$ interim report  Approval and  payment  within 60  calendar days  2$^{nd}$ interim  payment  12 month + 10  days  Draft Minutes of the  2$^{nd}$ stocktaking  meeting  18 months  Final report Approval and  payment  within 60  calendar days  Final payment  1.5 Place of performance: where will the contract be performed?  1.6 Nature of the contract: how will the contract be implemented?  1.7 Volume and value of the contract: how much do we plan to buy?  The estimated total value of this contract is indicated under Heading II.1.5 of the contract  notice.   Tenderers need to take full account of the provisions of the Draft contract as the latter will  define and govern the contractual relationship(s) to be established between the  Contracting  authority and the successful tenderer(s). Special attention is to be paid to the provisions  specifying the rights and obligations of the contractor, in particular those on payments,  performance of the contract, confidentiality, and checks and audits.  In direct contracts all the terms governing the provision of the services, supplies or works are  defined at the outset. Once signed, they can be implemented directly without any further  contract procedures The procedure will result in the conclusion of a direct contract.   The services will be performed at the contractor's premises.  15