Chapter 2. Accounting Services
Section 2.11. Credit and Collections

2.11.2. Sponsored Research Agreements

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:

1. 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.



2. A purchase order from the sponsoring agency, which must be accepted by an authorized representative of the University.



3. A letter of credit issued to the University by various federal agencies to pay for contracts and grants.



NOTE: The University may request cash for three days in advance as frequently as required.

4. Automatic payments by several state and federal agencies in various time cycles, such as quarterly.



5. Advance payment in full.