Negotiating Terms of the Award
The Office of Sponsored Programs (OSP)is responsible for negotiating terms and conditions of an award with sponsors. The time required to negotiate the agreement depends on a number of factors. As a general rule, negotiating contract with private industry takes more time than grants from the Federal Government. The negotiation process ranges from a few days to several months.
OSP is the only office authorized to conduct negotiations and will involve the principal investigator, Business Office, and others as appropriate in this process. Under no circumstances should the PI sign a sponsored agreement or give the impression that she/he is negotiating on behalf of the College.
During the negotiation process, it is important to pay attention to some key factors, such as:
- Submission of Revised Budgets
- Standard Subaward Terms and Conditions
- Standard Contract Terms and Conditions
- Industrial Collaborations
- Nondisclosure and Confidentiality Agreements
- Notice of Award