Settlement agreements are used to terminate an award and negotiate a final payoff amount in lieu of the full amount owed. Sponsors may send a settlement agreement when they cannot or will not pay the full amount owed to the University for expenditures already incurred or for the contractual award amount.
The settlement agreement may contain a final payoff amount, which may need to be, or may already have been, negotiated with the PI’s dept.
Settlement agreements are handled by Legal Affairs with input from OSP, Office of Technology Management and Purchasing.
All settlement agreements should be submitted to OSP and will then be escalated to the contracts director for review. OSP will work with Legal Affairs and any other applicable parties to negotiate and finalize the agreement.