External BEE Verification Sample Clauses
The External BEE Verification clause establishes the requirement for an independent third party to assess and confirm a company's Broad-Based Black Economic Empowerment (BEE) status. Typically, this involves the company engaging an accredited verification agency to review its compliance with BEE criteria, such as ownership, management control, and socio-economic development contributions. By mandating external verification, the clause ensures that BEE credentials are accurate and trustworthy, thereby reducing the risk of misrepresentation and promoting transparency in business dealings.
External BEE Verification. 45.5.1 The Private Party shall appoint a reputable external verification agency to determine the Private Party’s BEE status and a copy of such an independent verification certificate shall be provided to SANParks within 15 (fifteen days) after the end of each Project Year.
45.5.2 The BEE Verification Certificate will categorise the Private Party according to the Private Party’s contribution to BEE.
45.5.3 The Private Party shall be obliged in terms of this PPP Agreement to, at a minimum, comply with the category of a Good BEE Contributor for each Project Year.
45.5.4 In the event of default by the Private Party to comply with the provisions of the aforegoing Clauses and the Private Party default is not remedied before the expiry of the period referred to in the notice by SANParks, SANParks may terminate this PPP Agreement with immediate effect by written notice to the Private Party.
External BEE Verification. 44.5.1 The Private Party shall appoint a reputable external verification agency to determine the Private Party’s BEE status and a copy of such an independent verification certificate shall be provided to SANParks within 15 (fifteen days) after the end of each Project Year.
44.5.2 The BEE Verification Certificate will categorise the Private Party according to the Private Party’s contribution to BEE.
44.5.3 The Private Party shall be obliged in terms of this PPP Agreement to, at a minimum, comply with the category of a Good BEE Contributor for each Project Year.
44.5.4 In the event of default by the Private Party to comply with the provisions of the aforegoing Clauses and the Private Party default is not remedied before the expiry of the period referred to in the notice by SANParks, SANParks may terminate this PPP Agreement with immediate effect by written notice to the Private Party.
44.5.5 The Private Party is obliged to comply with the BEE commitments as outlined in the bid submission. In addition the Private Party is required to comply with commitments made to involve Land Claimants either as equity shareholders or to fill vacant positions with people from the beneficiary list as determined and verified by the Chief Land Claims Commissioner. Failure to do this might result in termination of the PPP Agreement.
External BEE Verification. 46.6.1 The Private Party shall appoint a reputable external verification agency to determine the Private Party’s BEE status and a copy of such an independent verification certificate shall be provided to SANParks within 30 (thrirty days) after the end of each Project Year.
46.6.2 The Private Party shall be obliged in terms of this PPP Agreement to, at a minimum, be rated as a Good BEE Contributer by an external verification agency for each Project Year.
46.6.3 In the event of default by the Private Party to comply with the provisions of the a foregoing Clause 46.6.2 and the Private Party default is not remedied before the expiry of the period referred to in the notice by SANParks, SANParks may terminate this PPP Agreement with immediate effect by written notice to the Private Party.