Arizona Recoverable Grant Agreement
Description
How to fill out Recoverable Grant Agreement?
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FAQ
It is essential that you closely review both the grant agreement and the terms and conditions to confirm that your organization concurs with all of the information in the grant agreement. Make note of any significant concerns, questions, or mistakes in the grant agreement, including the terms and conditions.
Recoverable grants are different from loans in that they are forgivable. Grantors may consider forgiving repayment under extraordinary circumstances, and in Echoing Green's case, are not repayable unless the recipient company is financially successful.
Grants are awards of financial assistance, usually from a governmental agency or foundation, primarily for carrying out a public purpose of support or stimulation. A grant is distinguished from a contract, which is used to acquire property or services for the government's direct benefit or use.
The Recovery Fund is a form of financial protection provided by licensed Arizona residential contractors to residential homeowners. The Recovery Fund is governed by statute and available only to claimants who own and occupy, or intend to occupy, residential property.
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.
Recoverable grant capital can serve the same purpose for a nonprofit organization. For example ? if a nonprofit is working to test a new, unproven solution to address climate change, they need access to patient risk capital to help them innovate and try new ways to address the problem.
If the purpose is to acquire property or services for the direct benefit or use of the federal government, the agency is to use a procurement contract; if the purpose is to stimulate or support an activity that serves a public purpose, the agency is to use a grant or cooperative agreement.
The grant agreement defines what activities will be undertaken, the project duration, overall budget, rates and costs, the EU budget's contribution, all rights and obligations and more.
