Dan,

I would think the primary deciding point would be in the terms and
conditions.  The leading question is what are the deliverables?  Is the
vehicle sending funds for "best efforts" in research or is there
specific products being turned over to the funding person/agency?

The main difference in my thoughts is that a contract is a vehicle to
control parties where there is some monies transferred between parties
for a good, service or specific consideration.  Whereas a grant is a
method of transferring funds in a controlled manner for a scientific
endeavor or benefactorial relationship, without consideration or
conditions that require a specific deliverable product or service.

Chuck Willis
Grant & Contract Administrator
ODU Research Foundation
Phone: (757) 683-4293 Ext. 613
Fax: (757) 683-5290
E-mail: xxxxxx@pobox.hprf.odu.edu