4.2.6 Risk Mitigation Policy

Policy No: RESEARCH 4.2.6  
Type of Policy: Administrative
Effective Date: April 2013    
Last Revised: April 2013

Policy Owner: OSP
Policy Contact: Duane Hutchison, Executive Director, duane.hutchison@osp.gatech.edu

1. Policy Statement

Research projects that are funded by private industry sponsors and certain others carry an added risk of financial losses due to non-payment by the sponsor. The causes of non-payment range from financial exigencies faced by the company particularly during periods of general economic slowdown to disappointment on the part of the sponsor with the outcomes of the research project. With such sponsors, it is particularly important to establish clear contractual agreement as to the nature of the research relationship between Georgia Tech and the sponsor. It is equally important to develop payment terms that mitigate Georgia Tech’s financial exposure, set clear expectations regarding payment, and exercise consistent and prudent oversight of project receivables.

2. Scope

This policy applies to all Georgia Tech Faculty and Staff.

3. Policy History

Revision Date Author Description
01-02-2014 OSP Rev 1.0