Funding Deed

(or Funding Agreement): if you are successful in a grant application you will be asked to sign a document setting out the terms and conditions under which the funding agency agrees to provide funding to a project. The Funding Deed effectively amounts to a legally binding contract between the funding agency and the recipient of the grant. The terms are not usually negotiable, and you will generally have 30 days to sign. No funding will be provided prior to signing. Due to the significant detail contained in these documents, they are often available at the time you start the application. This is a good opportunity to read and review the clauses that you will be bound by if successful. Of particular note, you should check the terms in relation to intellectual property, especially if you intend to sell it overseas.