Verification

                                                                                  Verification

WHAT ARE THE BENEFITS FOR MY COMPANY TO HAVE A VALID SCORECARD:

Increased procurement opportunities by entities wishing to enhance their own broad-based B-BBEE status through preferential procurement
Government licensing eligibility or licensing renewal process
Financing decisions, where empowerment is a key criterion for sourcing the fund, e.g. B-BBEE Funds
Independent, reliable proof of contributions made towards economic empowerment

How do I apply for such a rating?


The step-to-step guide below gives a basic outline on how to obtain a BEERS scorecard. For more information on the process or for a ratings pack please send an email to Tanya@beersconsult.co.za


The Verification Process


Step 1 Enquiry
If you wish to engage us please complete our Verification request document and sent it back to us via the contact details on this document
 Verification Request
On receipt of the above you will be contacted with a formal proposal for the full verification process by the Operations Manager


Step 2 Engagement
Upon acceptance of the proposal and information thereof the Working Document, Verification Agreement and the Rating Pack will be sent to you prior to the scheduling of an Orientation meeting. Should the Orientation meeting be quoted for. At such a meeting the documentary requirements will be discussed

Step 3 Verification File
Once the Orientation meeting(if quoted for) has taken place we will require all the documentary evidence to be sent to our office in hard copy or electronically. Once all the documents required is received, the verification analyst will compile the file and calculate the scoring as well as collate the sampling needed for this verification.
On completion of the analysis, the file will be handed over to the auditors who will then conduct a formal assessment on all the information provided.


Step 4 Verification Outcome
Once you have gone through the verifications process, you will be awarded a verification certificate. The overall verification score will be issued as per guidelines in the Codes of Good Practice, e.g. Level 3 Contributor.
Should you require an indepth report, especially for board presentation, this can be arranged at an additional fee.

Qualification (Total B-BBEE Score)

B-BBEE Status

B-BBEE Recognition Level

Above 100%

Level One Contributor

135%

85%~100%

Level Two Contributor

125%

75%~85%

Level Three Contributor

110%

65%~75%

Level Four Contributor

100%

55%~65%

Level Five Contributor

80%

45%~55%

Level Six Contributor

60%

40%~45%

Level Seven Contributor

50%

30%~40%

Level Eight Contributor

10%

0%~30%

Non-Compliant Contributor

0%

NOTE: Should your company’s annual turnover not exceed R5 million, please note that you then qualify as an Exempted Micro Entity (EME).


Commitment Fees and Payment Process


The cost of the verification will be dependent on the complexity of the ownership structure, the number of employees, annual turnover, and number of operating entities.

Please note: 50% of the fee is payable upfront upon acceptance of the proposal. The balance of the fee is payable on completion, but prior to the release of any final deliverables. Out-of pocket expenses will be for the client’s account, and travel is charged for clients outside a 10km radius from our offices. There may be additional fees levied for analysing complex structures. This will be communicated once the ownership organogram is analysed before the acceptance of the quote.