Change of Broad Based Black Economic Empowerment (B-BBEE) Status Sample Clauses

Change of Broad Based Black Economic Empowerment (B-BBEE) Status. Where a change in the Contractor’s legal status, ownership or any other change to his/her business composition or business dealings results in as change to the Contractor’s B-BBEE status, the Contractor notifies the Employer within Seven Days of the change. The Contractor is required to submit an updated verification certificate and necessary supporting documentation confirming the change in his/her B-BBEE status to the Project Manager within thirty days of the notification or as otherwise instructed by the Project Manager. Where as a result, the Contractor’s B-BBEE status has decreased since the Contract Date the Employer may either re-negotiate or alternatively terminate the Contractor’s obligation to provide the works. Failure by the Contractor to notify the Employer of a change in its B-BBEE status may constitute a reason for termination. If the Employer terminates in terms of this clause, the procedure on termination will apply.
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Related to Change of Broad Based Black Economic Empowerment (B-BBEE) Status

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