Financial Services
Policies and Procedures - Contracts and Grants
Policy 18 - Fixed Price Contracts
Most awards to UNCG are on a cost-reimbursable basis. However, under some circumstances a fixed-price contract may be negotiated.
In those few cases where an agreement is a fixed-price contract (generally research institutes and centers), provisions must be made by the Principal Investigator (PI) and/or department or center having primary responsibility for the project to cover any overdrafts or excess funds.
Upon completion of the project and confirmation from the sponsor that the terms of the contract have been satisfactorily met, the facilities and administrative (F&A)/(indirect) costs budget will be adjusted to charge the contract the full F&A budget, subject to availability of the excess funds. Any remainder after covering the adjusted F&A costs will belong to the PI and/or department or center having primary responsibility for the project.