Common use of BLACK ECONOMIC EMPOWERMENT Clause in Contracts

BLACK ECONOMIC EMPOWERMENT. 17.1 The Contractor must be BBBEE compliant and maintain at least a level 5 for the purposes of this Agreement. The Contractor further undertakes to comply with Black Economic Empowerment policies of ArcelorMittal from time to time and is required to improve its BBBEE compliance status by at least one contribution level every year for the duration of the Agreement, until such time as a BBBEE compliance level 3 is reached. After reaching BBBEE compliance level 3, it must be maintained for the remainder of the Agreement. 17.2 ArcelorMittal reserves the right to audit the Contractor’s BBBEE status on a regular basis and the Contractor shall afford ArcelorMittal reasonable access to all documents and other information necessary to conduct such audit(s).

BLACK ECONOMIC EMPOWERMENT. 17.1 16.1 The Contractor must be BBBEE compliant and maintain at least a level 5 for the purposes of this Agreement. The Contractor further undertakes to comply with Black Economic Empowerment policies of ArcelorMittal from time to time and is required to improve its BBBEE compliance status by at least one contribution level every year for the duration of the Agreement, until such time as a BBBEE compliance level 3 is reached. After reaching BBBEE compliance level 3, it must be maintained for the remainder of the Agreement. 17.2 16.2 ArcelorMittal reserves the right to audit the Contractor’s BBBEE status on a regular basis and the Contractor shall afford ArcelorMittal reasonable access to all documents and other information necessary to conduct such audit(s).

BLACK ECONOMIC EMPOWERMENT. 17.1 18.1 The Contractor must be BBBEE compliant and maintain at least a level 5 for the purposes of this Agreement. The Contractor further undertakes to comply with Black Economic Empowerment policies of ArcelorMittal from time to time and is required to improve its BBBEE compliance status by at least one contribution level every year for the duration of the Agreement, until such time as a BBBEE compliance level 3 is reached. After reaching BBBEE compliance level 3, it must be maintained for the remainder of the Agreement. 17.2 18.2 ArcelorMittal reserves the right to audit the Contractor’s BBBEE status on a regular basis and the Contractor shall afford ArcelorMittal reasonable access to all documents and other information necessary to conduct such audit(s).