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Contract Preparation

Contracts

Proposals for contract work are similar to grant proposals in that they include a detailed budget, a specific description of the proposed work, and must be approved through the External Funding Approval Form process, preferably prior to submission to the funder, before a Foundation account can be opened or project work can begin.  The difference is that contracts require the additional step of negotiation prior to acceptance of an award.

In this negotiation process, ORSP acts as a broker or intermediary between the funder and the Foundation to ensure that all documents are prepared and executed in accordance with University and Foundation policies.  As such, it is best to plan for additional time for this negotiation step, which can take often take 2-6 weeks or longer, depending on the circumstances.

The Foundation has developed a sample contract that includes language that protects both University and Foundation interests and provides the information necessary for fiscal management.  You can download a copy of this sample contract from the Foundation's Grants and Contracts Administration page. Though we understand that many funders prefer to use their own prepared contracts, the Foundation, as fiscal agent, must approve all contracts prior to officially accepting the funds and opening an account.  As such, contracts that most resemble the Foundation contract may be processed more quickly than those that require extensive negotiation.  Regardless of the form of the contract, the negotiation process takes time, so please plan accordingly.