I am currently in the process of formally naming the forms of monetary support that my university's research council is providing to its employees. My question is:
Is there any formal document that describes the difference between a grant and an award?
I'm also interested in how the terms grant and award differ from other terms such as incentive, fellowship, scholarship, professorial chair, and so on.
For example, I know that one who is applying for a grant submits a proposal to be able to get funding for an activity that has not yet been done. I also know that some awards require nominations (and some disallow self-nomination) and are given for work that has already been done. I know that grants usually require liquidation of the monetary support given; I am not sure if the same is true for awards. Grants sometimes have clauses where the recipient is to return the monetary support if he or she fails to submit the expected outputs; I am not sure if the same is true for awards.