Final disbursement.Preparation of WA(s) for final disbursement(s) of project loan
and tranche disbursement of a policy-based loan should be closely coordinated
between ADB and the borrower and/or EA, particularly if the remaining unutilized
balance is expected to be fully utilized.
4.17 Winding-up period.10
The borrower may make withdrawals from the loan account
for expenditures incurred on or before the loan closing date. Expenditures incurred
after the loan closing date will not be financed under the loan. ADB may allow up to
4 months after the loan closing date (i) for the borrower’s WAs to be submitted to ADB
for expenditures incurred on or before the loan closing date, and (ii) for the borrower
to fully liquidate expenditures incurred on or before the loan closing date. After the
winding-up period, WAs, including requests for liquidation, will not be accepted.
Extension of the winding-up period, on an exceptional basis, may be approved by ADB
(Section 4.14).
4.18 Within 2 months after the winding-up period for submission of documents, the
borrower should fully refund any outstanding imprest account balances to ADB. If the
borrower fails to fully refund such balances, ADB may, among other corrective actions,
decide not to allow the use of the imprest fund procedure under the borrower’s new
projects until such time as the refund is received.
4.19 Payment of final audit fees.If external auditor’s fees are financed by ADB, it is
best practice to pay the audit fee before the loan closing date after completing the
final audit (Section 4.15). When audit fees under a project need to be paid after the
closing date, special arrangements may be required for payment of the final audit fee
from the loan account. External auditor’s fees for the final fiscal year may be disbursed
from the loan account, under condition that (i) the borrower signs a contract for the
final audit prior to the loan closing date, and (ii) the contract is a lump-sum or fixedprice contract that requires completion
11
of audit within 6 months after the loan
closing date. If the audit work cannot be completed during the winding-up period, and
the final audit fee will be paid through the escrow account, full supporting documents
should be attached to the WA (see Appendix 4D for more details).
4.20 Refunds.All refunds must be paid to ADB’s accounts at its depository banks with
payment details indicating (i) references such as loan number, (ii) description or
nature of the refund, and (iii) currency and amount of refund. The borrower and/or
EA should send advice to ADB’s Treasury Services Division (TDTS) and CTLA once
a refund is made.

The borrower is responsible for managing its contracts in accordance with ADB’s

9:25 AM    

if SWIFT BIC for the correspondent bank is not available, Fedwire ABA Number
and CHIPS Participant Number for US dollar payments; and
ȕ special instructions or references to facilitate payment or identification of
payment, where applicable.
ADB’s Contract Reference Number:
Procurement Contract Summary Sheet Number
5.11  The borrower is responsible for managing its contracts in accordance with ADB’s
guidelines, and for maintaining records for all signed contracts in a contract ledger
(Section 4.5). In principle, the borrower should obtain approval for contracts before
requesting disbursements under the contracts. Disbursements are charged to the
approved contracts and recorded in the contract ledger.
5.12  The PCSS number3
is assigned by ADB for identifying a particular contract approved
by the borrower and submitted to ADB under a particular loan. The PCSS includes the
following:
ȕ ADB contract number;
ȕ date of contract approval;
ȕ mode of procurement and/or consultant selection method;
ȕ name of contractor or supplier;
ȕ terms of payment and currencies of contract;
ȕ price escalation clause (yes/no);
ȕ total amount of the contract;
ȕ amount to be financed by ADB; and
ȕ ADB’s disbursement percentage.
5.13  The PCSS number should be indicated on the summary sheet (Appendixes 7B and 8B).
To find the number, refer to ADB’s monthly report named List of Contract by Executing
Agency, which is available in the Loan Financial Information System (LFIS) or Grant
Financial Information System (GFIS) website (Chapter 14).
Sample Forms of Withdrawal Applications
5.14  WA forms and summary sheets vary for different procedures (e.g., Appendix 7A
for direct payment and reimbursement procedures, Appendix 8A for commitment
procedure, Appendix 10A for imprest fund procedure, and Appendix 11A for policybased loan). For the borrower’s convenience, these forms can be downloaded from the
LFIS/GFIS website (http://lfis.adb.org).