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TYPES OF
AWARDS
DEFINED
AWARD:
The term
award
is a
generalized
term
used for
all
sponsored
program
funds.
An award
may be
further
classified
as being
a
contract,
cooperative
agreement,
fixed
price
contract,
grant,
grant-in-aid,
or a
various
fund.
The
award
document
will
generally
indicate
the type
of award
received.
COOPERATIVE
AGREEMENT:
A
cooperative
agreement
is
entered
into
when a
government
or
industrial
sponsor
provides
partial
support
for an
existing
or
anticipated
University
program
of
mutual
interest
to the
sponsor
and the
University.
While
not as
exacting
as a
contract,
the
provisions
of a
cooperative
agreement
should,
nevertheless,
be
treated
with the
same
respect.
FIXED
PRICE
CONTRACT:
A fixed
price
contract
indicates
that
specific
objectives
and
outputs
are to
be
delivered
within a
specific
time
frame
for a
fixed
price,
regardless
of
expenditures.
COST
REIMBURSEMENT
CONTRACT:
A cost
reimbursement
contract
permits
reimbursement
for
actual
costs
incurred
in the
accomplishment
of the
required
research.
GRANT:
A
grant is
defined
as
financial
assistance,
and
depending
upon the
provision
of the
award, a
grant
may be
classified
either
as a
gift or
as
sponsored
funds.
COOPERATIVE
RESEARCH
AND
DEVELOPMENT
AGREEMENT
(CRADA):
A
vehicle
to
transfer
technology
between
the
government
and the
university.
CRADA's
can also
be used
to
transfer
equipment
or
supplies.
CRADA's
do not
transfer
funds
($$).
GRANT-IN-AID:
A
grant-in-aid
is an
award
made to
an
individual
or to an
institution
on
behalf
of that
individual
to
support
his or
her
educational
pursuits.
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