LUMS is always well-equipped and prepared for any emergencies. In case of research funding that emergency preparedness is referred as Bridge Financing. This is basically borrowing money from university’s available funds in case of temporary delays from the sponsor. Bridge finance can only be arranged for ongoing sponsored research programs for which release of funds from the sponsor is expected in near future as per signed contract and the PI must justify the need for bridge finance in the application.
There are three available funding options in order of their preference:
1. PI’s overhead account
2. School overhead account
3. VC pool
Under the last two situations PI and relevant Dean must provide a reasonable explanation before requesting funds from the VC Pool, respectively.
ROUTE WHEN FUNDS ARE TAKEN FROM PI OVERHEAD ACCOUNT
ROUTE WHEN FUNDS ARE TAKEN FROM SCHOOL/VC POOL
Bridge Financing is for helping the faculty members in case of temporary shortage of funds however there are certain limitations on usage of these funds. Following are those needs that even bridge finance can’t cater: