LegalFix
Sign In

§ 1484.53 - What are the requirements for documenting and reporting contributions?

Copy with citation
Copy as parenthetical citation

Each claimed contribution must be documented by the Cooperator, showing the method of computing non-cash contributions, salaries, and travel expenses.

Each Cooperator must keep records of the methods used to compute the value of non-cash contributions, and

Copies of invoices or receipts for expenses paid by the U.S. industry and not reimbursed by the Cooperator for the joint activity; or

If invoices are not available, an itemized statement from the U.S. industry as to what costs it incurred pursuant to the joint activity; or

If neither of the foregoing is available, a statement from the U.S. industry as to what goods and services it provided; or

If none of the foregoing are available, a memo to the files of the U.S. Cooperator's estimate of what contributions were made by the U.S. industry, item by item, and the method used to assign a value to each.

Each Cooperator must report its contributions as described in § 1550.70 (a).

Previous Section
§ 1484.52 - What are the guidelines for computing the value of non-cash contributions?
Next Section
§ 1484.54 - What expenditures may FAS reimburse under the Cooperator program?