Assignment and Release forms are legal documents that explain the fiscal relationship between Harvard and the sponsor after an award ends. Sponsors may require Assignment and Release forms as part of a contract, subcontract, or cooperative agreement’s closeout documentation.
Assignment
The Assignment form assigns rebates, credits, and other amounts to the sponsor. If the University receives a refund or other credit to the award after we submit our final financial report, we must refund it to the sponsor.
Release
The Release form releases the sponsor from further obligations except those noted in the document.
Assignment and Release forms are prepared by an OSP Financial Analyst. The forms require two signatures:
- Assistant Vice President for Sponsored Programs
- Secretary or Assistant Secretary of the Corporation
The sponsor’s final payment may be contingent on the sponsor’s receipt of these and other closeout documents.