Fee for Service Explained (and how it differs from a grant)

  • Fee for service is a fixed fee payment model
  • Overhead needs to be built into the cost
  • Fee for service is not cost reimbursable
  • Budget is used for internal purposes only and not sent to funder
  • PI puts themselves at risk if getting work done costs more than the flat amount quoted
    • the possibility of getting work done for less cost will allow PI to keep the extra funds.