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Grants, Contracts, RFAs, and RFPs. 1  A grant is a funding mechanism for a particular scientific inquiry that you generate. 2  In contrast, a contract is a funding mechanism of government agencies or other organizations to obtain specified services or goods.
A grant-in-aid is money coming from central government for a specific project. This kind of funding is usually used when the government and parliament have decided that the recipient should be publicly funded but operate with reasonable independence from the state.