+27 11 442 2433 info@transcend.co.za
0 Items

B-BBEE Commission releases practice guide on validity of BEE certificates and affidavits.

Download

Contact us for help on how to deal with the complexities of valid, invalid or fraudulent certificates and affidavits filtering into your supply chain.

We will assist you manage your supplier compliance and validate all certificates and affidavits used in the procurement calculation.

The guide seeks to:

  1. Give guidelines and features of what constitutes a valid BEE verification certificate, CIPC BEE certificate, EME affidavit, and QSE affidavit.
  2. Reiterate that an EME affidavit is sufficient proof of BEE compliance for EMEs.
    • An EME will only have to follow a QSE scorecard and be verified by a SANAS accredited verification agency when it wants to improve its status.
    • Start-up businesses with contracts exceeding the EME/QSE threshold must also get a SANAS accredited agency to do a verification
  3. Review where certain relevant sector codes provide for a deviation from the affidavit.
  4. Review the conditions that apply when an EME or start-up business uses the CIPC services for obtaining a BEE certificate (which has the same status as a sworn affidavit).
  5. Highlight the implications of contravening the BEE Act by trading with a fraudulent/invalid BEE certificate:
    • Entities could be fined up to 10% of their annual turnover
    • Individuals involved could face up to 10 years in prison and/or be fined.

 

h

More Insights

Y.E.S. TO JOB CREATION!

Y.E.S. TO JOB CREATION!

One of the major problems facing South Africa is unemployment – which is currently sitting at around 37%.  When looking at youth (18 - 35 years old) the unemployment rate is above 50%.  This is a ticking time-bomb waiting to go off, and must be disarmed....

read more
Speak to a Consultant
X