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Indirect Cost Rate Agreement

Indirect Cost Rate Agreement Template for Ireland

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Key Requirements PROMPT example:

Indirect Cost Rate Agreement

"I need an Indirect Cost Rate Agreement for my research institution in Dublin that will establish multiple rate categories (including facilities and administrative costs) for government-funded projects, with the agreement to take effect from January 2025."

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Document background
The Indirect Cost Rate Agreement (ICRA) is a crucial document for organizations in Ireland that receive government funding or engage in government contracts. It establishes a formal understanding between the organization and the relevant government authority regarding how indirect costs will be calculated, allocated, and recovered. This agreement is essential when organizations need to recover overhead and administrative costs associated with government-funded projects while ensuring compliance with Irish financial regulations, EU directives, and public spending requirements. The document typically includes detailed rate calculations, methodologies, and specific terms of application, serving as a reference point for both financial planning and audit purposes. It's particularly relevant in contexts where organizations manage multiple government-funded projects or programs and need a standardized approach to indirect cost recovery.
Suggested Sections

1. Parties: Identifies the organization and the reviewing/approving government agency or authority

2. Background: Establishes the context and purpose of the indirect cost rate agreement

3. Definitions: Defines key terms including indirect costs, direct costs, base costs, and other relevant terminology

4. Rate Types and Application: Specifies the types of indirect cost rates being established (e.g., provisional, predetermined, final) and their application

5. Rate Calculation Methodology: Details the approved methodology for calculating indirect cost rates

6. Period of Applicability: Specifies the time period during which the rates are applicable

7. Base of Application: Defines the cost base to which the indirect cost rates will be applied

8. Special Remarks: Lists any special provisions or limitations on the use of the rates

9. Certification and Acceptance: Contains formal acceptance and signatures of authorized representatives

Optional Sections

1. Multiple Rate Structure: Include when organization requires different rates for different functions or divisions

2. Fringe Benefits Rate: Include when separate fringe benefit rates are being established alongside indirect cost rates

3. Special Rate Considerations: Include when there are unique circumstances affecting rate calculations or applications

4. Carry-Forward Provisions: Include when addressing treatment of over/under recoveries from previous periods

5. Cost Sharing Arrangements: Include when there are cost sharing requirements with other entities or funding sources

Suggested Schedules

1. Schedule A - Rate Computation: Detailed calculations and components used to determine the indirect cost rates

2. Schedule B - Allocation Bases: Breakdown of the allocation bases used for different cost pools

3. Schedule C - Excluded Costs: List of costs specifically excluded from indirect cost pools

4. Schedule D - Cost Classification Guide: Guide for classifying costs as direct or indirect

5. Appendix 1 - Supporting Documentation: List of documents reviewed and relied upon in establishing the rates

6. Appendix 2 - Rate History: Historical rate information and trends if applicable

7. Appendix 3 - Special Conditions: Any special conditions or requirements specific to the organization

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


































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Relevant Industries

Education

Research & Development

Healthcare

Public Services

Non-Profit

Technology

Construction

Defense Contracting

Environmental Services

Scientific Research

Social Services

Relevant Teams

Finance

Accounting

Government Relations

Compliance

Legal

Operations

Project Management

Research Administration

Grants Management

Internal Audit

Relevant Roles

Chief Financial Officer

Finance Director

Financial Controller

Grants Manager

Project Accountant

Cost Accountant

Government Contracts Manager

Finance Manager

Compliance Officer

Auditor

Project Director

Research Administrator

Financial Analyst

Budget Manager

Operations Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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