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What does NFCC mean in business?

The National Foundation for Credit Counseling (NFCC) is a membership organization representing the interests of credit counseling firms. The NFCC provides educational resources and accreditation for its members.

What is the value of outstanding works?

The Outstanding Works means Contract Price (excluding Vat) minus Work Evaluated by Employer till the reference date.

What is net financial contracting capacity?

The NFCC level, a credit line and a certificate of a hold-out on cash deposit establish the bidders liquidity, its capacity to absorb the additional obligations in connection with the contract to be bid and to finance its implementation/completion.

What is the format for net financial contracting capacity?

NFCC = [(Current asset minus current liabilities) (15)] minus the value of all outstanding or uncompleted portions of the projects under ongoing contracts, including awarded contracts yet to be started coinciding with the contract to be bid.

What is the financial contracting capacity?

NFCC = [(Current assets minus current liabilities) (15)] minus the value of all outstanding or uncompleted portions of the projects under ongoing contracts, including awarded contracts yet to be started, coinciding with the contract to be bid.