Receiving an International Award
There are special considerations required when receiving an overseas award.
Minimizing the Effect of Currency Conversion on Sponsored Projects
When Tufts University receives funding from agencies outside the United States, the award budget and payments should be in U.S. dollars. This ensures that fluctuations in currency exchange rate will not reduce funds available for program activities. If the sponsor is not able to fund the award in U.S. dollars, the Central Pre-Award will request that the sponsor would bear the cost of currency conversion. If neither scenario is possible, a formal internal approval will be required to continue negotiation of an award. Please contact your Pre-Award Point of Contact for additional details.
Bank transaction fees
Every incoming payment from outside of the United States carries an associated bank transaction fee of up to $25 per payment. Therefore, budgets for proposals from foreign sponsors must include bank transaction fees in the amount of $25 per payment budgeted. The budgeted amount should be calculated based on the expected frequency of payments. If information regarding invoice frequency is not available, quarterly payments should be assumed. Please note that at the time of the award the actual (rather than budgeted) cost of bank transactions will be charged to the account under 5502 – Wire Fees when payments are received.
Outgoing payments from the United States to banks in other countries also bear bank transaction fees. Budgets for subawards with international organizations where Tufts is a prime institution should budget for these fees appropriately.
Hiring Overseas
International projects often require personnel working in foreign countries. Investigators and administrators should consider the country in which the activity will occur, the activities of the project, and Tufts’ status in that country to determine the appropriate hiring mechanism.
International Travel
In accordance with Tufts' Policy for International Travel Safety, all university-related travel has to be registered with the Tufts Travel Registry.
Tufts Global Operations Support
Global Operations Support is a resource to investigators and administrators when international activities are planned. It brings together experts in the areas of tax, purchasing, legal, human resources, and compliance to assess issues, provide advice, and reduce internal infrastructure barriers for University faculty and staff undertaking research, projects, or programs abroad.