Common use of Task 6 Clause in Contracts

Task 6. The contractor shall develop and manage a process for tracking and administering payments of stipends and academic expenses in accordance with their internal written policy and procedures. Furthermore, upon selection of the applicants, the contractor shall establish administrative files for each program participant. Each new student's information will be entered into the administrative database. Presently, this outreach program provide stipends and student's allowances. The CCDC-ARL shall determine annual stipends for each year for each class prior to distribution of applications. Stipends are paid monthly directly to the fellows. The contractor shall implement an electronic direct deposit system to effectively distribute stipend and academic fees even during peak payment periods. Stipend payments shall be electronically transferred directly to each fellow's financial institution on a monthly basis. It is the Contractor’s responsibility to ensure CCDC-ARL students are in good academic standing prior the distribution of stipends and allowances. The contractor shall report the amounts of all stipend payments and allowances on each student recipient to the Internal Revenue Service (IRS) on the appropriate Federal forms and within the IRS required timeframes.