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Office of Contracts Management (OCM)

Billing Agreements
About Billing Agreements
A Billing Agreement is a short and efficient mechanism through which VU and VUMC can contract for limited work to be performed and to effectuate payments.  There are a few things to know:
 
  • Billing agreements are only for inter-institutional relationships between VU and VUMC.
  • A billing agreement cannot substitute for a subcontract.  If a faculty member is performing substantive scientific work on a project, a sub-award not a billing agreement is the appropriate mechanism
  • Billing agreements can be sponsored (funds coming from a grant or a contract), or non-sponsored (institutional funds).
  • Billing agreements provide for reimbursement of costs.   They do not have indirect costs, but the non-sponsored billing agreements do include a 10% administrative fee.  
  • A request for a new billing agreement should be submitted to the Office of Contracts Management through PEER (https://peer.mc.vanderbilt.edu).  Choose the option to “Create a Contract Request,” and you will be guided to the form.  You will be asked if the request is for a billing agreement, and if the answer is yes, the number of questions will be reduced.
  • If your billing agreement is for reimbursement of costs for students, you will need one billing agreement per student.