RCUH Policies and Procedures
Contractor’s Assignment of Refunds, Rebates, Credits, and Other Amounts
CONTRACT NO (PO #).:
Pursuant to the terms of Contract No. (PO #) and in consideration of the reimbursement of costs and payment of fee, as provided in the said contract and any assignment thereunder, the (Contractor name and address) (hereinafter called the Contractor) does hereby:
1. Assign, transfer, set over and release to the Research Corporation of the University of Hawaii for the benefit of the University of Hawaii (hereinafter called the RCUH/UH), all right, title and interest to all refunds, rebates, credits, and other amounts (including any interest thereon), arising out of the performance of the said contract, together with all the rights of action accrued or which may hereafter accrue thereunder.
2. Agree to take whatever action may be necessary to effect prompt collection of all refunds, rebates, credits, and other amounts (including any interest thereon) due or which may become due, and to promptly forward to the Contracting Officer checks (made payable to the Research Corporation of the University of Hawaii) for any proceeds so collected. The reasonable costs of any such action to effect collection shall constitute allowable costs when approved by the Contracting Officer as stated in the said contract and may be applied to reduce any amounts otherwise payable to the RCUH/UH under the terms hereof.
3. Agree to cooperate fully with the RCUH/UH as to any claim or suit in connection with refunds, rebates, credits, or other amounts due (including any interest thereon); to execute any protest, pleading, application, power of attorney, or other papers in connection therewith; and to permit the RCUH/UH to represent the Contractor at any hearing, trial, or other proceeding, arising out of such claim or suit.
IN WITNESS WHEREOF, this assignment has been executed this ________ day of __________________, 20_____
Name: _________________________________ Name: __________________________________
Title: __________________________________ Title: ___________________________________
NOTE: in the case of a corporation, witnesses are not required, but the certificate below must be completed by an official of the organization other than the one signing above.
I, _______________________________________ certify that I am the (Official Title) _______________________________________ of the corporation named as Contractor in the foregoing assignment; that __________________________________________ who signed said assignment on behalf on the Contractor was then (Official Title) _____________________________________ of said corporation; that said assignment was duly signed for and in behalf of said corporation by authority of its governing body and is within the scope of corporate powers.
(CORPORATE SEAL) _________________________________________