In certain instances, a project may be terminated prior to the original expiration date. This policy gives guidance on how a grant can be terminated before the close out date indicated on the grant holders Award Letter.
A need for the termination of a grant, in whole or in part, at any time prior to its expiration may arise, and various scenarios and conditions shall apply.
- If a grant is terminated, the grant holder shall refund the AAS such portion of the grant that has been received, but not utilised.
- If the grant holder completes the project without spending the full amount of the grant, the grant shall be closed out and grant holder shall repay all unspent sums to the AAS, and AAS shall not be obliged to make any further payments in respect of the grant.
Possible reasons for early termination include:
- The Principal Investigator (PI) has expended all of the awarded funding in compliance with the award terms and conditions and has submitted all project deliverables.
- The PI is leaving the host institution and the project will not be transferred or assigned a new PI.
- AAS has requested an early termination.