What Is A Contribution And Exchange Agreement

There are no agreements, understandings, limitations, warranties or representations with respect to this subject matter between the parties, except as set forth herein. Scenario: Drexel University receives a grant from the Department of Health and Human Services (DHHS) to find a cure for cancer. The agreement requires the university to (1) follow the rules and regulations established by the Office of Management and Budget (OMB) (also known as Uniform Guidance), 2) incur certain expenses in accordance with Uniform Guidance and DHHS, 3) receive an annual review in accordance with Uniform Guidance, 4) submit a report on the results of the research to the federal government at the end of the award. All unused assets (i.e., budget dollars) expire at the end of the scholarship and, if undue costs have been instilled by the university, they must be reimbursed. Drexel University retains the rights to the results. A capital contribution agreement must include the following: Conclusion: This is a non-exchange transaction for the following reasons: 1) The corresponding value is not exchanged between Drexel and DHHS, 2) Drexel retains the rights to the research and receives the main benefit of the results, 3) the federal government is considered an indirect beneficiary because the research benefits the public. G. All rights of any Contributor under this Agreement and any other agreement, certificate and instrument otherwise provided in connection with this Agreement. .