by MBDA. Name checks, verification of academic credentials and pre-award audits may be required from applicants. Deadlines: Deadlines for formal competitive awards are outlined in the Federal Register and/or the Commerce Business Daily. Range of Approval/Disapproval Time: From 4 to 6 months. Successful and unsuccessful applicants shall be notified in writing at the same time. Appeals: All decisions are final. There are no administrative appeals. Renewals: Business development awards may be renewed after the successful completion of the initial competitive project award, at the discretion of the agency for two additional years without undergoing formal competition for participating in this program, subject to the availability of funds and the satisfactory performance of the recipient. 93 ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: Projects may be required to provide the minimum 15 percent of cost-sharing in the form of in-kind contributions and cash. Length and Time Phasing of Assistance: For 1 to 3 years depending on the requirements of the projects. POST ASSISTANCE REQUIREMENTS: Reports: Financial (quarterly and annually), narrative (quarterly and annually); statistical reports are required. Audits: In accordance with the provisions of OMB Circular No. A-133 (June 30, l997), Audits to States, Local Governments and Non-Profit Organizations
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