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Grant Assistance Program
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»Section IV - Project Administration
»What steps does CRDF take to ensure funds are transferred in a secure and verifiable manner?
What steps does CRDF take to ensure funds are transferred in a secure and verifiable manner?
The CRDF headquarters office manages all funds from accounts based in the U.S. Funds are paid through carefully monitored designated banks. All foreign banks utilized by CRDF are screened and evaluated by international financial experts, CRDF staff and representatives, and independent consultants. The banks are chosen for their ability to process US dollar payments to individual scientists with the highest degree of reliability and security possible. In addition to utilizing the strongest banks currently available in Eurasia, CRDF has strict internal controls to ensure that all transactions undergo multiple levels of review, all transactions are tracked and documented to confirm distribution to the intended recipients, and numerous other internal systems to ensure accuracy and timeliness of payments to further minimize risk of loss of funds to provide additional security when transferring funds to individual recipients.
Detailed financial reports are provided to sponsors detailing all payments made during the specific reporting period.
More in Section IV - Project Administration
- Who is responsible for the technical oversight of project work?
- What is the contractual relationship between CRDF, the Foreign Recipient Organization and the Sponsor Organization?
- When can the first project payments be made?
- Can CRDF advance funds on behalf of a Sponsor and then bill the Sponsor to be reimbursed?
- Are there any limits on the amounts to be paid to recipients under GAP?
- Can I transfer salary funds directly to the Recipient institute for distribution to the participants?
- Do the same salary rates that apply to CRDF grants apply to GAP projects as well?
- Is it allowed, as the project is in progress, to modify the technical content according to the intermediate project results? Can we also change the schedule of payments?
- If the expected deliverables are performed before the planned dates, is it possible to update the schedule of payments and pay the Recipients earlier than scheduled?
- Who holds title to equipment and property provided to the Foreign Recipient Organization under projects administered through GAP?
- We are planning on shipping high-tech research equipment to a Eurasian country. What kind of export issues should we consider?
- What is the nature and extent of the customs exemptions and import assistance offered for equipment under GAP?