A federal award refers to financial assistance or cost-reimbursement contracts provided to non-federal entities by federal awarding agencies. These awards can be received directly or indirectly through pass-through entities. However, it is important to note that procurement contracts for goods or services are not included in this definition. Such contracts are governed by their own terms and conditions.
Federal awards are commonly used in various legal contexts, particularly in the areas of grants and funding for non-profit organizations, state and local governments, and educational institutions. Understanding federal awards is essential for entities seeking funding or support from federal agencies. Users can manage applications and compliance processes using legal templates from US Legal Forms, which are drafted by qualified attorneys.
Here are a couple of examples of abatement:
Example 1: A local government receives a federal award to support a community development project. This funding helps cover the costs of infrastructure improvements.
Example 2: A non-profit organization applies for a federal award to fund a public health initiative aimed at increasing vaccination rates in underserved communities. (hypothetical example)
| Term | Definition | Key Differences |
|---|---|---|
| Grant | Financial aid provided for a specific purpose without the expectation of repayment. | A federal award can include grants but also encompasses cost-reimbursement contracts. |
| Contract | A legally binding agreement between parties to provide goods or services. | Procurement contracts are not considered federal awards, while federal awards can include contracts for assistance. |
If you believe you may be eligible for a federal award, start by researching the specific programs available through federal agencies. Consider using legal templates from US Legal Forms to assist with the application process. If your situation is complex, it may be beneficial to consult a legal professional for tailored advice.
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A federal award is financial assistance or a cost-reimbursement contract provided to non-federal entities by federal agencies.