Definitions of Grants and Contracts and Subawards

Grant

It is defined as a written agreement under which the College conducts research, teaching or other services and provides technical/financial reports during and at the end of the period of the service.

Contract

It constitutes a more stringent and specific written agreement under which the College conducts research or other services; specific obligations are generally imposed on all parties to the contract. Deliverables are required.

Subaward

It involves a written agreement whereby a portion of the project work is transferred to another organization under a Contract, Grant or Cooperative agreement.