NIH Transition to Subaccount Based LOC
Marisa Zuskar, Kevin Cook
In 2013, the National Institutes of Health (NIH) initiated steps to transition to a subaccount based Letter of Credit (LOC) draw process to request reimbursement of funds for NIH awards. This transition will have a significant impact on research institutions in a variety of ways. Institutional leadership should ensure that their research administration units and departments are proactively preparing for this change in order to minimize the operational and financial impact.
In this document, Huron summarizes the major changes and the anticipated institutional impact.Read More