Operating Procedures Manual
Chapter 2. Accounting Services
Section 2.11. Credit and Collections
Section 2.11. Credit and Collections
2.11.2. Sponsored Research Agreements
Policy
A formal written agreement must be executed defining the scope of the work to be performed, terms of payment, etc. between the University and the sponsoring agency before any work - the results from which are to be reported to an organization or person, is commenced by any unit of the University. The formats of such agreements may be as follows:
- A formal written contract signed by both an authorized representative of the entity engaging the University to perform the services, and an authorized representative of the University.
- A purchase order from the sponsoring agency, which must be accepted by an authorized representative of the University.
- A letter of credit issued to the University by various federal agencies to pay for contracts and grants.
- Automatic payments by several state and federal agencies in various time cycles, such as quarterly.
- Advance payment in full.
NOTE: The University may request cash for three days in advance as frequently as required.
History | ||
Adopted: | 11/13/2001 |
http://www.admin.mtu.edu/admin/procman/ch2/ch2p102.htm
Copyright © 2014. Michigan Technological University. All Rights Reserved.
Address questions to: policy@mtu.edu.
Copyright © 2014. Michigan Technological University. All Rights Reserved.
Address questions to: policy@mtu.edu.