We have accepted grants in Yen.  We wrote a date clause into the grant that
stated that the amount of the grant is the value as of (say 9/1/02).  This
way the sponsor was tied to a specific amount.

Hope this helps!
Domenica

At 03:12 PM 8/28/2002 -0400, you wrote:
>Has your institution ever accepted a grant agreement from a foreign
>country in which  the compensation amount was expressed in a foreign
>currency instead of US Dollars? If so, do you have any suggestions about
>how we should deal with the risk of
>currency exchange rate changes over the course of the contract period
>(four years).
>
>We are negotiating a four year subcontract with a research foundation in
>
>a European country that is funded by the European Union, and we are very
>concerned
>that if the Euro is significantly devalued over the four year period, we
>could suffer a loss on the cost reimbursement agreement.  The European
>country would be paying us, and the foundation's contract negotiator
>said that the subcontract has to be in Euros.
>
>Laurie
>
>--
>
>Laurie P. Chamness                   Phone:  (843) 953-4973
>Assistant Director                   Fax:  (843) 953-6577
>Research & Grants Admin              E-mail:  xxxxxx@cofc.edu
>College of Charleston
>66 George Street
>Charleston, SC  29424
>
>
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Domenica G. Pappas, CRA
Associate Director
Office of Sponsored Research and Programs
Illinois Institute of Technology
3300 S. Federal Street
Main Building, Room 301H
Chicago, IL 60616-3793

Phone:  (312) 567-3035
Fax:    (312) 567-6980
Email:  xxxxxx@iit.edu

web:    www.grad.iit.edu/research/

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 Instructions on how to use the RESADM-L Mailing List, including
 subscription information and a web-searchable archive, are available
 via our web site at http://www.hrinet.org (click on "Listserv Lists")
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