Iowa Award Agreement
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How to fill out Award Agreement?
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FAQ
A cost reimbursable subaward agreement is used to pay for actual expenses incurred in the performance of the statement of work. The risk associated with this type of agreement is typically borne by the pass-through entity (PTE), as there is no guarantee of an outcome or deliverable.
A cost reimbursable subaward agreement is used to pay for actual expenses incurred in the performance of the statement of work. The risk associated with this type of agreement is typically borne by the pass-through entity (PTE), as there is no guarantee of an outcome or deliverable.
This is a cost-reimbursable contract where the buyer reimburses the seller for the seller's costs plus a fixed profit (fee). For example, the buyer reimburses the seller for work and materials costs. They agreed on a fixed fee of 10,000 USD, so this is pure profit for the seller.
As outlined in the NIH GPS 1.2, a subaward is an award provided by a pass-through entity to a subrecipient for the subrecipient to carry out part of a Federal award received by the pass-through entity. It does not include payments to a contractor or payments to an individual that is a beneficiary of a Federal program.
Subawards allow another organization to perform some activities for your grant under the PI's supervision. They enable collaborations between the grantee?and the subawardee. A grantee must still play a substantive role in the research. The work cannot simply be passed on to a subawardee.
A subaward may be provided through any form of legal agreement, including an agreement that the pass-through entity considers a contract.? An example of a subaward would be a territory being awarded federal funds from a Department of Justice mandatory grant to increase housing assistance for victims.
What is a cost-reimbursement contract? A cost-reimbursement contract requires a buyer to cover the costs of any work that is completed. These costs may be both direct and indirect. The final pricing is determined once the project is finished or on a date set in the contract.
