Post-Contract IRB Management
IRB contractors are required to submit IRB annual reports to Innovation, Science and Economic Development Canada, where officials review them to determine the progress of the IRB obligation. The report contains IRB transactions (business activities, etc.) that detail the work going to Canadian industry. IRB contractors only receive credit toward their obligation once their report has been verified.
Verification involves an Innovation, Science and Economic Development Canada review of the IRB contractor's relevant documentation (invoices, purchase orders and other payment information) to prove work has been completed as described in the IRB claims. The verification process ensures that work claimed by the IRB contractor is accurate and meets the IRB eligibility criteria.
The Canadian recipient company is responsible for providing the IRB contractor the CCV percentage before they submit their annual report. Innovation, Science and Economic Development Canada officials may contact Canadian companies to verify the CCV percentage after the report has been submitted.
If the IRB contractor does not complete the obligation by the end of the contract, performance guarantees and contractual penalties are then exercised to compensate Canada.
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