A few of the most common types are listed below. The list is not exhaustive, but most of the sponsored project funding in the School of Medicine will probably fall into one of these categories.
Contracts are legal agreements used for procuring a specific service or product.
Cost-reimbursement contracts provide for payment of actual costs incurred, up to a ceiling amount equal to the total estimated cost stated in the contract. The contractor may discontinue work on the project after costs reach this upper limit, unless the sponsor increases the total contract. Specific terms of collaboration are spelled out in individual agreements, which the ORA will review carefully with the investigator. In all other respects, cooperative agreements follow the policies applicable to grants. Grants are generally less restrictive than contracts, although technical and financial reports are generally required.