1. What is a BEE-rating certificate?
A BEE-rating certificate is a document that indicates a company’s level of BEE compliance. Level one contributor is the highest status and eight as the lowest. The higher the status level, there more chances a company has against competition. Companies should aim to maintain a higher status level annually.
2. Why does a company need a BEE-rating certificate?
A company needs a BEE-rating certificate to proof their level of BEE status. The certificate includes indicators such as the company’s turnover, the level of black ownership and the overall BEE status.
The certificate is valid for a year and renewed annually based on new evidence submitted for BEE implementation during the period under measurement.
The Minister of Finance, Pravin Gordan has ruled that from the 07th December 2011 a company cannot conduct business with municipalities, government departments and any state owned entities without a valid BEE-rating certificate. Failure to submit a valid BEE-rating certificate shall lead to disqualification.
A BEE-rating certificate is also used by companies to claim procurement spent to BEE compliant suppliers. Companies have to buy from BEE compliant suppliers to score points for BEE procurement spent. If you don’t have a BEE-rating certificate, your customers will look for a BEE compliant supplier. It is important for companies to aim to achieve and maintain a level one status to remain competitive.
Take advantage of the 07 December 2011 deadline and obtain a BEE-rating certificate for your company.
3. How do I get BEE certificate?
Complete the request form on BEEandYourBusiness.com and find-out how your company can benefit from more than our eight years’ experience in providing BEE services.