If we are doing the work, we quote in US$ and require payment in
US$.  Eliminates the risk.  Otherwise, I'd advise getting the department to
guarantee from its own funds any US$ difference lost.

We're pretty one way about it -- if we are subbing to someone else, we
limit the sub to a maximum of X US$, too.

Chuck

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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Herbert B. Chermside, CRA
Director, Sponsored Programs Administration
Virginia Commonwealth University
PO BOX 980568
Richmond, VA  23298-0568
Express Delivery Only:
 Sanger Hall, Rm. 1-032A
 11th & Marshall Streets
 Richmond, VA  23219
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