Awards Received in Non-US Dollars

Because exchange rate fluctuations can result in over/under differences, ORSP will attempt to negotiate all awards in US dollars.  

Should an award be issued in foreign currency, ORSP will request such awards be issued as fixed price agreements with up front payment in full.  If unable to do so, the PI/department must agree in writing to accept responsibility for currency conversion adjustments.  ORSP will then establish an index with a budget that reflects the full amount of conversion as of the date of set up.