LUMS is always well-equipped and prepared for any emergency. In case of research funding that emergency preparedness is referred to as Bridge Financing. This is basically borrowing money from the university’s available funds in case of temporary delays from the sponsor. Bridge finance can only be arranged for ongoing sponsored research programmes, for which the release of funds from their sponsor is expected in the near future, as per the signed contract. The Principal Investigator (PI) must justify the need for bridge finance in the application.
There are three available funding options in order of their preference:
- PI’s overhead account
- School overhead account
- VC pool
Under the last two situations, the PI and the relevant Dean must provide a reasonable explanation before requesting funds from the VC Pool, respectively.
Route When Funds Are Taken From the PI Pi Overhead Account
Route When Funds Are Taken From the School/VCc Pool
Bridge Financing aims to is for helping the faculty members in case of temporary shortage of funds however there are certain limitations on the usage of these funds. The Following are the ose needs that even bridge finance can’t cater.