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How long does it take to get B-BBEE certificate?

On average, this is no more than one to two months a company will be notified of the requirement of a specific BEE level for the required business transaction.

What is a B-BBEE certificate?

B-BBEE is an empowering initiative to increase the number of black (and other previously disadvantaged) people who own and manage businesses within the South African economy through the implementation of Codes of Good Practice.

How much does a B-BBEE certificate cost?

CIPC B-BBEE certificates are free of charge. CIPC only provides B-BBEE certificates to Exempted Micro Enterprises in terms of the Amended Codes of Good Practice, issued in terms of Section 9 of the Broad-Based Black Economic Empowerment Act 53 of 2003 as amended; turnover of no more than R10 million.

How much does a B-BBEE certificate cost?

CIPC B-BBEE certificates are free of charge. CIPC only provides B-BBEE certificates to Exempted Micro Enterprises; turnover of no more than R10 million. A certificate is only valid for a year and cannot be renewed.

How do I get a sworn affidavit in the US?

To obtain an affidavit, write out the statements to which you want someone to swear in affidavit format. Have the person review the statements and, if they're true and accurate, that person should sign the affidavit before a notary public. Affidavits are executed under penalty of perjury.

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Why do you need a B-BBEE certificate?

One of the main benefits of having a B-BBEE certificate is that companies can conduct business with government sectors in South Africa, including municipalities, as well as public entities. The certificate allows the company to tender for contracts and increases the chances of winning the contract.

How long does it take to get B-BBEE certificate?

On average, this is no more than one to two months a company will be notified of the requirement of a specific BEE level for the required business transaction.

What is on a BEE certificate?

A BEE Certificate is the end product of the B-BBEE verification process listing all critical information such as name, address and registration details of the company assessed, as well as the category, sector code, element scores and points as per the company's BEE scorecard, and the issue date of the certificate.

What do you need to get BEE certificate?

Follow these 10 steps to a compliant BEE certificate: UNDERSTAND AND EDUCATE YOURSELF ABOUT B-BBEE. ... UNDERSTAND HOW BEE AFFECTS YOUR BUSINESS. ... UNDERSTAND THE LEGISLATIVE REQUIREMENTS FOR YOUR BUSINESS. ... ASK A SPECIALIST. ... USE THE CORRECT TOOLS. ... UNDERSTAND THE INDICTORS FOR SCORING POINTS. ... KEEP A RECORD OF EVERYTHING.

Who can issue B-BBEE certificates?

Professional accountants or accounting officers may issue these certificates, but they must be sure that the enterprises qualify before doing so, to avoid falling foul of the codes and being seen as undermining the spirit of the BBBEE Act.

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