Brussels, 16 Oct 2002
Subject: Memorandum of Understanding for the implementation of a European Concerted Research Action designated as COST Action 534 "New Materials and Systems for Prestressed Concrete Structures"
Attached is the text of the abovementioned Memorandum of Understanding, signed in Brussels on 9 October 2002 by France, Ireland, Switzerland and the United Kingdom, on 10 October 2002 by Slovakia and Slovenia and on 11 October 2002 by Poland..
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:
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 increase the knowledge on the durability of existing and newly built prestressed concrete structures in order to prolong their service life (80 instead of 50 years), to minimise repair and monitoring costs and to improve their long-term safety
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 12 million.
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 five years, calculated from the date of the first Management Committee 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.
(TECHNICAL ANNEX) [...]