Requirements for Pass-Through Entities Clause Samples

The 'Requirements for Pass-Through Entities' clause sets out specific obligations and conditions that must be met by entities such as partnerships, LLCs, or S-corporations, which do not pay income tax at the entity level but instead pass income, deductions, and credits through to their owners. This clause typically details documentation, reporting, and compliance standards that these entities must follow, such as providing ownership information or certifying tax status. Its core function is to ensure transparency and proper tax treatment, preventing misuse or noncompliance by clarifying the responsibilities of pass-through entities under the agreement.
Requirements for Pass-Through Entities. Information required by 2 CFR 200.331 for pass-through entities to include on all subawards is contained herein as Exhibit A.
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Requirements for Pass-Through Entities. (2 CFR §200.331) A. For any Third Party Subawards that the Subrecipient enters into in the course of carrying out this Agreement, the Subrecipient shall include the following: i. Federal award information as specified in 2 CFR §200.331(a)(1) to the best of its knowledge; ii. Requirements imposed by the Federal awarding agency, the City, or itself in order to meet its own responsibility to the City under this Subaward; iii. An approved federally recognized indirect cost rate negotiated between the Subrecipient and the Federal Government or, if no such rate exists, either a rate negotiated between the Subrecipient and its Third Party Subrecipients, or a de minimis indirect cost rate as defined in §200.414 Indirect (F&A) costs, paragraph (f); iv. A requirement that the Third Party Subrecipient permit the Subrecipient, the City, higher level funders, and auditors to have access to the Subrecipient's records and financial statements as necessary for the Subrecipient to meet the requirements of this part; and v. Appropriate terms and conditions concerning closeout of the Subaward. B. For any Third Party Subawards that the Subrecipient enters into in the course of carrying out this Agreement, the Subrecipient agrees to: i. Evaluate each Third Party Subrecipient's risk of noncompliance with Federal statutes, regulations, and the terms and conditions of the Subaward for purposes of determining the appropriate Subrecipient monitoring described in paragraphs (3) of this section; ii. Consider imposing specific Subaward conditions upon a Third Party Subrecipient if appropriate as described in 2 CFR §200.207 Specific conditions; iii. Monitor the activities of the Third Party Subrecipient as necessary to ensure that the Subaward is used for authorized purposes, in compliance with Federal statutes, regulations, and the terms and conditions of the Subaward; and that Subaward performance goals are achieved. See 2 CFR §200.331(d) and (e) for specific requirements; iv. Verify that every Third Party Subrecipient is audited as required by 2 CFR §200 Subpart F— Audit Requirements of this part when it is expected that the Subrecipient's Federal awards expended during the respective fiscal year equaled or exceeded the threshold set forth in 2 CFR §200.501 Audit requirements; v. Consider whether the results of the Third Party Subrecipient's audits, on-site reviews, or other monitoring indicate conditions that necessitate adjustments to the pass-through entity's own records; and vi....
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Requirements for Pass-Through Entities. A. All pass-through entities must: (i) Ensure that every subaward is clearly identified to the Sub-Recipient as a subaward and includes the following information at the time of the subaward and if any of these data elements change, include the changes in subsequent subaward modification. When some of this information is not available, the pass-through entity must provide the best information available to describe the Federal award and subaward. Required information includes: (a) Federal award identification. (1) Sub-Recipient name (which must match the name associated with its unique entity identifier); (2) Sub-Recipient's unique entity identifier; (3) Federal Award Identification Number (▇▇▇▇); (4) Federal Award Date (see the definition of Federal award date in §200.1 of this part) of award to the recipient by the Federal agency; (5) Subaward Period of Performance Start and End Date; (6) Subaward Budget Period Start and End Date; (7) Amount of Federal Funds Obligated by this action by the pass-through entity to the Sub-Recipient;
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Related to Requirements for Pass-Through Entities

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  • CONTRACT REQUIREMENTS a. NSF will exercise its responsibility for oversight and monitoring of procurements, contracts or other contractual arrangements for the purchase of materials and supplies, equipment or general support services under the award. The procedures set forth below shall be followed to ensure that performance, materials and services are obtained in an effective manner and in compliance with the provisions of applicable Federal statutes and executive orders. The awardee shall obtain prior written approval from the cognizant NSF Grants and Agreements Officer prior to entering into a contract if the amount exceeds $250,000 or other amount specifically identified in the agreement. Contracts clearly identified in the NSF award budget are considered approved at the time of award unless withheld by the Grants and Agreements Officer. Contracts must be clearly identified in the NSF award budget (on Line G6. Other) or by receiving written prior approval from the cognizant NSF Grants and Agreements Officer after an award is issued. The threshold noted above also applies to cumulative increases in the value of the contractual arrangement after initial NSF approval. The awardee shall not artificially segregate its procurements to lesser dollar amounts for the purpose of circumventing this requirement. A request to enter into a contract shall include, at a minimum: 1. Proposed contractual arrangement document; 2. A description of the supplies or services required; 3. Identification of the type of contract to be issued; 4. The proposed price and the recipient's cost or price analysis; 5. Identification of the proposed vendor, an explanation of why and how the proposed vendor was selected, and the degree of competition obtained; and 6. If the contract was awarded without competition, the memorandum shall include a detailed justification.

  • Support Requirements If there is a dispute between the awarded vendor and TIPS Member, TIPS or its representatives may assist, at TIPS sole discretion, in conflict resolution or third party (mandatory mediation), if requested by either party. TIPS, or its representatives, reserves the right to inspect any project and audit the awarded vendors TIPS project files, documentation and correspondence. TIPS Members stand in the place of TIPS as related to this agreement and have the same access to the proposal information and all related documents. TIPS Members have all the same rights under the awarded Agreement as TIPS.