Alabama Grant Agreement
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FAQ
It serves as a binding document that defines the responsibilities of districts and the state from the determination of the amount of eligible state funding to the reporting of all project funds, including any savings achieved.
In addition to standard terms describing grant amounts and purposes, agreements also include provisions regarding intellectual property rights, reporting requirements, and indemnification, among other subjects. Special provisions are included that deal with international philanthropy.
Grants can provide valuable resources for organizations to carry out projects or provide services they otherwise would not be able to. It is important to remember, however, that grants are competitive.
Essentially, a contract is a legally binding document in which the parties make promises to deliver a product or service in exchange for consideration (usually money.) A grant on the other hand is when one party grants funds to another party to do something, in reasonable hopes that the task can be accomplished.
The Agreement includes: this letter ? the Grant schedule (attachment A) ? the Grant terms and conditions (attachment B) ? your application ? the grant opportunity guidelines applicable on the date you submitted your application.
