Laurie:

I'd beg my Pre-Award folk to not take a 4 year award in foreign
currency.  The risks are entirely too great.  If the foreign currency
tanks, we're stuck.  If inflation hits here, we're stuck again.

I have seen where some institutions have picked a rate as of a given
date.  If their currency loses value with respect to the dollar, or if
the dollar strengthens, you'd lose out.  You would also have fees
involved to convert the currency to US dollars which probably couldn't
be charged to the grantor.

Stick with the US dollar...

Greg

Laurie Chamness 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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