What is cooperative agreement in SAP PSM-GM - Grants Management?

SAP Term: cooperative agreement

• Component: PSM-GM

• Component Name: Grants Management

• Description: Legal instrument used to establish a funding relationship in which substantial sponsor involvement is expected.

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• Key Concepts: 
  A cooperative agreement is a type of grant agreement between two or more parties, typically between a government agency and a non-profit organization. It is used to provide financial assistance for a specific purpose, such as research, training, or public service. In the SAP Grants Management (PSM-GM) component, cooperative agreements are used to manage the grant process from start to finish. 
  
  How to use it: 
  In the SAP Grants Management component, cooperative agreements are used to define the terms and conditions of the grant, including the amount of funding, the duration of the grant, and any other requirements. The agreement also outlines the roles and responsibilities of each party involved in the grant process. Once the agreement is created, it can be used to track and manage all aspects of the grant process, including budgeting, payments, and reporting. 
  
  Tips & Tricks: 
  When creating a cooperative agreement in SAP Grants Management, it is important to ensure that all parties involved understand their roles and responsibilities. It is also important to ensure that all terms and conditions are clearly outlined in the agreement. Additionally, it is important to review all documents related to the grant before signing off on the agreement. 
  
  Related Information: 
  For more information on cooperative agreements in SAP Grants Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_GRANTS_MANAGEMENT/latest/en-US