Projects Selected for Funding
If your proposed project is selected for SMART Funding, you will receive both electronic (e-mail) and written notification. (That will be the Notification Date for contract purposes.) You will then work with a SMART Program representative to finalize details about the project, details that will become part of a contract between your company and CME (download the Contribution Agreement here).
Initial Payment
Once your signed contract is received back in our offices, we will send you your first payment, equal to 30% of the award amount.
For example, assume you proposed a $100,000 project and received an award of $50,000 – 50% of the project costs. Your first payment will be 30% of the award amount, or $15,000.
Supervision of Your Project
Once the contract is in place, you will need to communicate with us to keep us up-to-date on the progress of the project and the benefits you eventually experience. You will be able to contact appropriate CME staff by phone, e-mail and using the same online system you used to submit your application. In addition, the Reference you chose at the beginning of the process will continue to help keep things on track – they will also be part of the project supervision process.
Starting and Completing Your Project
Our contract requires that you start your project within 2 months of the Notification Date and finish the project no later than January 31, 2011. CME and your Reference will be in contact with you to help you keep on schedule.
Learn more about Project Progress reporting.
Submitting Actual Expenses for Reimbursement
When the project is complete, and all of the project expenses have been documented by your company, you are ready to report them to CME for reimbursement according to the terms of the Contract.
Learn more about Expense Claims and the reimbursement process.
Reporting the Results of the Project
Once the project is finished, you have up to 6 months to conduct follow-up measurements of performance to see if the results you expected have actually been achieved. When you report these results to CME this will trigger release of your final payment under the contract.
Learn more about Reporting Results and receiving your final payment.
Audits
Approved projects are subject to an audit at any time during the progress of the project. Companies will be given 48 hours notice of the audit visit. Should any information regarding your eligibility status or your project scope change, you must advise CME in writing of the changes before the completion of your project.
SAMPLE AGREEMENT
RELATED LINKS
- Frequently Asked Questions (FAQ)
- Project Progress Reporting
- Expense Claims and Reimbursement
- Project Payments
- Reporting Results and Receiving Final Payment
LATEST NEWS
Application Intake Now Closed
Jul 01, 2010
The application intake closed on June 30, 2010. All applications are currently being reviewed and applicants should expect to receive a status update by August 16, 2010.
SMART II Program Extended to March 31, 2011
Jun 14, 2010
SMART accepting NEW applications until 4PM EST - June 30, 2010.
