The graph below is an example of the cascading breakdown of an annual swap contract: however, the procedure for financial assistance to third parties under Horizon 2020 is very different from the experience gained by third-party beneficiaries of the project from which they were selected and concluded under a contract with the European Commission. Instead, third parties receiving cascading funding under Horizon 2020 have a contract with the EU-funded project consortium, of which they become third.  This means that this consortium is responsible to the European Commission for third parties to whom it provides financial assistance and that, therefore, these third parties do not need legal and financial validation, which allows projects to launch open tenders in their projects more quickly/easily. Shaded boxes are contracts used to create the cascading process that closes a position. The assistance offered by these open tenders usually consists of funding (usually between €50,000 and €150,000), but can also be vouchers for support services or free access and support for the use of the test facilities. . This funding method aims to simplify administrative procedures and set up an easy application system that is favourable to SMEs, by allowing certain EU-funded projects to issue open calls for further funding.  This programme is based on the Erasmus student model and was first introduced by the European Commission under Horizon 2020, the Framework Programme for Research and Innovation (2014-2020). .