The contract requirements are normally defined by the sponsor, i.e., content of work statement, schedule, format of periodic progress reports, terms and conditions, etc. Contracts offer competitive opportunities to all types of scientific sources and are used by the awarding agency as a means of fulfilling its program objectives. Grantor or contracting party is to receive or be entitled to receive some tangible consideration, such as a detailed technical report of research results or a detailed formal report of expenditures. Researcher has existing consulting agreement with grantor or contracting party which is related to researcher's area of interest. A specified period of performance is prescribed.
Termination is at the discretion of the grantor or contracting party.
Patent rights are requested by the grantor or contracting party. Publication restrictions are requested by the grantor or contracting party. Sales involve the provision of standardized goods and services at established prices. Sales involving non-standardized goods or services are a contract, grant, or other agreement. University general ledger account established to facilitate designated activities of University-affiliated entities which promote the mission of the University.