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THE

BEECHAMBER

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NEWS

CONTRACTS MUST SUPPORT THE EVIDENCE REQUIRED

A B-BBEE Verification is based on the evidence presented. Therefore, when entering into an agreement with a Beneficiary, a contract must incorporate all evidential requirements.



Although parties do not enter into an agreement with the mindset that things will go wrong, the mitigation of risk must drive such an agreement. Consequently, generic Beneficiary contracts do not apply to all.


It is vital that an organisation highlights all the benefits in the agreement as well as how evidence is presented for a B-BBEE Verification at the date of signature. Challenges often occur when an organisation identifies benefits by default, following the signing of a contract. One may not synchronise the date of agreement to suit a benefit later revealed.


Enterprise & Supplier Development Services are available to guide members on the contractual requirements for this element.



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