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Basic definition of EC grants and procurement contracts. - or the functioning of a body which pursues an aim of general European interest or has an objective forming part of a European Union policy.
Grants, Contracts, RFAs, and RFPs. 1  A grant is a funding mechanism for a particular scientific inquiry that you generate. You come up with the idea, they decide if it's a good idea, and they provide funding for you to do it. In contrast, a contract is a funding mechanism of government agencies or other organizations to obtain specified services or goods.