A continuation award is a type of financial grant provided for a subsequent budget period following the initial budget period of a project. This award is typically associated with approved projects or their renewals, allowing organizations to continue their work without interruption. It ensures that funding is available for ongoing projects that have demonstrated success or potential for further development.
Continuation awards are commonly used in the context of federal funding, particularly by agencies like the Department of Energy. They are relevant in various legal areas, including grants and contracts. Organizations seeking to extend their funding for projects often utilize continuation awards to maintain their operations and achieve project goals. Users can manage the application process through legal templates available from platforms like US Legal Forms, which provide guidance on the necessary forms and procedures.
Here are a couple of examples of abatement:
Example 1: A nonprofit organization receives a continuation award from the Department of Energy to fund ongoing research on renewable energy technologies after successfully completing the initial phase of their project.
Example 2: A university research team applies for a continuation award to extend their funding for a project studying climate change impacts, demonstrating the project's initial success and outlining future goals. (hypothetical example)
| Term | Definition | Key Differences |
|---|---|---|
| Continuation Award | A grant for a subsequent budget period of an approved project. | Focuses on ongoing funding for existing projects. |
| New Award | A grant for a completely new project. | Initiates funding for projects that have not been previously funded. |
| Supplemental Award | An additional grant to enhance or expand an existing project. | Provides extra funding rather than extending the existing budget period. |
If you are involved in a project that may qualify for a continuation award, consider the following steps:
In complex situations, seeking professional legal advice may be beneficial.
Browse our library of 85,000+ state-specific legal templates.
A continuation award is funding provided for a subsequent budget period of an approved project.