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Contract or Agreement

  • A contract or an agreement involves a promise, or set of promises, for which the performance of is recognized as a legal obligation.

    Each contract document contains a statement of work or a description of the services to be provided. This work statement should be drafted with great care, for failure by the University or contractor to deliver the results anticipated, or to perform what is defined in the statement of work, is a breach of contract.

    An agreement where a specific work statement is supported by funds from a sponsor who exercises more control than in the case of a grant.