A grant is money given to organizations or individuals for a specific purpose, in order to achieve objectives consistent with government policy… [and] is generally used to include any financing agreement in which the recipient is selected on the basis of performance criteria on the basis of a set of criteria. Subsidies can take many forms, including ad hoc payments, competition assessment or whether certain criteria are met. The abbreviated form is used for financing amounts and activities that are less risky than the standard form. The short form is a full-fledged, modifiable model that contains its own Abridge conditions. This is the most important agreement of the VCFA, which is used for most types of funding. The standard form consists of two separate documents: funding does not include donations, sponsorship, the undisputed transfer of funds to a public service or project agency (facilitated by a Memorandum of Understanding), the purchase of goods and services from third parties and consultants (purchases) or the purchase of goods and services on commercial terms. Services using the VCFA must ensure that eligible organizations meet the above requirements before executing a funding agreement for children`s services. More information is available on the ministry of justice and community safety website. Any form of VCFA is coupled with a bank of clauses.
Each clause bank contains additional clauses that can be used to tailor an agreement to certain financing requirements. The standard VCFA form is the VCFA`s most important contract model and is used for a large number of projects. The standard VCFA form consists of two separate documents: the calendar and the terms and conditions of sale. The VCFA Standard Form Clause Bank is used with the standard VCFA form. It has additional clauses to adapt the agreement to specific funding requirements. The clause bank also contains descriptions of these additional clauses and final sentences in which each clause must be inserted into the standard form. An abbreviated version of the standard form, used for smaller funding amounts or for lower-risk financing.