New York Terms and Conditions Project Support Grant Agreement

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US-ENTREP-0038-4
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Description

Grant agreement is a legal instrument of financial assistance between a Federal awarding agency or pass-through entity and a non-Federal entity. The Grant Agreementis a written document memorializing the terms and conditions of an Award granted pursuant to the Plan and shall incorporate the terms of the Plan.
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FAQ

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.

A cooperative agreement is a legally-binding contract that states the rights, duties, decisions, and commitments made between Caltrans and one or more public entities to plan, design, and construct projects in ance with the authorizing documentation.

Cooperative Agreements are distinct from traditional procurement contracts and thus are not subject to the Federal Acquisition Regulation (FAR). Like Other Transaction Authority, this approach provides agencies greater freedom to craft the terms of an agreement around new or innovative endeavors.

Cooperative agreements also provide assistance, but with substantial sponsor involvement, typically described in a set of specific terms. The basic purpose of a contract is to procure tangible good and services through an acquisition.

The government uses grants and cooperative agreements as a means of assisting researchers in developing research for the public good, whereas it uses contracts as a means of procuring a service for the benefit of the government. Grants are much more flexible than contracts.

Cooperative Agreement Definition A cooperative agreement reflects a relationship between the U.S. Government and a recipient and is used when the government's purpose is to assist the intermediary in providing goods or services to the authorized recipient.

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 distinction between grants and cooperative agreements revolves around the presence or absence of substantial involvement. In research activities, substantial involvement is likely to be found when a Federal employee is actively assisting, guiding, coordinating, or participating in the project.

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New York Terms and Conditions Project Support Grant Agreement