GRANT AGREEMENT Meaning and
Definition
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A grant agreement is a legally binding document that outlines the terms and conditions under which a grant is awarded. It is a contractual agreement between the grantor (the entity providing the grant) and the grantee (the person or organization receiving the grant). This agreement sets forth the rights and obligations of both parties involved.
In a grant agreement, the grantor specifies the purpose of the grant, the amount of funding to be provided, and any specific conditions or restrictions that may apply. It also defines the timeframe for the grant project and outlines the reporting and financial requirements that the grantee must comply with. Additionally, the grant agreement may include provisions regarding intellectual property rights, liability, and dispute resolution.
The grant agreement serves to protect the interests of both parties involved. It ensures that the grantor's funds are being used for the intended purpose and that the grantee is meeting the stated objectives. The agreement also provides a framework for monitoring and evaluation of the grant project.
Typically, grant agreements are used in various sectors such as research, education, healthcare, and community development. They are commonly utilized by government agencies, non-profit organizations, and private foundations to distribute funds and support projects that align with their mission and goals.
Common Misspellings for GRANT AGREEMENT
- frant agreement
- vrant agreement
- brant agreement
- hrant agreement
- yrant agreement
- trant agreement
- geant agreement
- gdant agreement
- gfant agreement
- gtant agreement
- g5ant agreement
- g4ant agreement
- grznt agreement
- grsnt agreement
- grwnt agreement
- grqnt agreement
- grabt agreement
- gramt agreement
- grajt agreement
- graht agreement
Etymology of GRANT AGREEMENT
The word "grant" originates from the Old English word "grantan", meaning to "grant, allow, or consent". It is derived from the Latin word "gratum", meaning "favor or regard".
The word "agreement" comes from the Latin word "agreed", which is the past participle of "agreare" meaning "to please or satisfy". The root of "agreement" is the Latin word "gratum", which also has links to the etymology of "grant".
Therefore, the term "grant agreement" refers to a legally binding document that reflects the consent or permission given by one party (the grantor) to another party (the grantee) in a formal agreement.
