Dear Members,
I received a foreign fund. I have to educate people for disaster management and also have to develop an equipment which could monitor the disastrous activity while disaster happens. developing the equipment is almost 80% of the total project cost. The equipment has to be researched and then developed and operated and monitored by the scientific company registered as “for profit”.
What kind of procedure/agreement/consultation/bills/mode should I adhere to undertake while dealing with this scientific company.
Please Help….
—
Amit Singh
Ganga Sansthan
32, Ameer Nagar,
Near Aishbagh Railway Station
Lucknow-226004
Dear Amit,
I think you have rec’d a very practical solution above. That your NGO can receive FCRA funds, for developing the equipment, you will need to get into a commercial agreement with ‘for profit’ company for development and monitoring of the asset. My own feeling is that the asset would need to be owned by the NGO which has received FCRA funds and has hired for Profit entity to develop the same.
As Mr Bansal has suggested that please maintain an arm’s length between your NGO and the company which you select for implementing the contract, so as to ensure transparency in the whole transaction.
1. Enter into a commercial agreement with TDS provisions with Pvt. Ltd. company.
2. None of the Trustees should be part of Pvt. Ltd. company.
3. NGO should be a leader in Disaster management so as to justify receipt of such FCRA funds.
4. NGO should ensure that , in this whole exercise, there should be some input which is specific to NGO.
5. NGO shall never share / part with experience / data as gathered by such Pvt. Ltd. Company.