Brussels, 22 Oct 2002
Subject: Memorandum of Understanding for the implementation of a European Concerted Research Action designated as COST Action 724 "Developing the Basis for Monitoring, Modelling and Predicting Space Weather"
Attached is the text of the abovementioned Memorandum of Understanding, signed in Brussels on 9 October 2002 by Finland, France, Germany, Greece and the United Kingdom and on 15 October 2002 by Italy.
[...] 1. The Action will be carried out in accordance with the provisions of document COST 400/01 "Rules and Procedures for Implementing COST Actions", the contents of which the Signatories are fully aware of.
2. The main objective of the Action is to develop further within a European framework the science underpinning space weather applications, as well as exploring methods for providing a comprehensive range of space weather services to a variety of users, based on modelling and monitoring of the sun-Earth system.
3. 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 15 million in 2002 prices.
4. The Memorandum of Understanding will take effect on being signed by at least five Signatories.
5. The Memorandum of Understanding will remain in force for a period of four years, calculated from the date of first meeting of the Management Committee, unless the duration of the Action is modified according to the provisions of Chapter 6 of the document referred to in Point 1 above.