Tips of the day, Office terms

[Swati Sinha]

Hello friends,

Please find some useful office terms.

 

FAR: Federal Acquisition Regulation.

 

Federal Acquisition Regulation. A comprehensive set of pre-written contract terms used by the federal government to draft federal contracts for procurement including research and development contracts to educational institutions.

 

Fiscal Year (FY): Any 12-month period. (UMSL = July 1st through June 30th; Federal = October 1st through September 30th; calendar year)

 

Fixed Price Contract/Grant: A contract/grant for which one party pays the other party a predetermined price, regardless of actual costs, for services rendered or the delivery of a final product/report.

 

FOIA: Freedom of Information Act. The laws that allow the general public the right to review certain federal government records upon request. It does not automatically apply to proposal and award documents, or to the data generated by research funded by the federal government.

 

TOP

 

Grant: A type of financial assistance award in which the sponsor anticipates no substantial programmatic involvement with the recipient during the performance of the activities.

 

Grantee: The recipient of a grant.

 

Grants Officer: The individual within a sponsoring agency who has the authority to commit that agency to spend funds.

 

 

 

IDC: Indirect costs.

 

Indirect Cost Rate: The rate at which indirect costs are charged to a project – expressed as a percentage of direct costs. There are separate indirect cost rates for research, instruction and public service, and each of those is further separated into on- and off-campus rates.

 

Indirect Costs. Those costs that are incurred by a project that cannot be clearly identified and assigned to that project (local telephone charges, administrative support, library use, building costs, and utility charges). Also called F&A costs.

 

Institutional Review Board: The IRB is an administrative body established to protect the rights and welfare of human research subjects recruited to participate in research activities conducted under the auspices of the University of Missouri–St. Louis. The UMSL Human Subjects Committee is an IRB.

 

Intellectual Property: A property interest granted by the Government that gives a person or entity ownership of the intellectual creations that it develops and the ability to exclude others from using or copying such creations. Types of intellectual property include patents, copyrights, trademarks and trade secrets.

 

Invention: A new and useful process, device, article of manufacture, or composition of matter, or new or useful improvement upon one of these.

 

Invention Disclosure: Written notification to the Office of Research Administration that an invention has been made. This form is an important step to protecting the invention.

 

IP: Intellectual property.

 

IRB: Institutional Review Board.

 

 

 

Key Personnel: Personnel considered of primary importance to the successful conduct of a research project. The term usually applies to the senior members of the project staff; however, sponsors may have differing definitions of Key Personnel.

 

 

Regards!
Swati M Sharma
when things don't seem to be going your way, always know that God has a plan for you. If you place your trust in Him, He will give you great gifts. We don't always know what God's plans are for us. We just know that His ways are not our ways, but His ways are always best!