Common use of Financial Situation Clause in Contracts

Financial Situation. 3.1 Financial Performance (a)Submission of audited balance sheets and other financial statements acceptable to the Employer, for the last two [2] years to demonstrate Financial Capacity: (b) Computation shall be made for the following Ratios and marks awarded to each of the ratios: -Working Capital Ratio - Turn Over ratio - Current ratio - Fixed Asset ratio (a) Submission of a Signed, Stamped Audited Statement Score 0- 2marks (b) Computation of ratios Score  0 – 8 Marks Each of the Ratios shall be Evaluated based on the Submissions signed by the Auditor Section 7, Schedule 8 (a) All pages must be initialized and stamped by both a practicing Auditor registered with ICPAK and one of the Directors. Auditor’s practicing membership number from ICPAK must be indicated. (b) All pages must be initialized and stamped by the issuing bank

Financial Situation. 3.1 Financial Performance (a)Submission of audited balance sheets and other financial statements acceptable to the Employer, for the last two [2] years to demonstrate Financial Capacity: (b) Computation shall be made for the following Ratios and marks awarded to each of the ratios: -Working Capital Ratio - Turn Over ratio - Current ratio - Fixed Asset ratio (a) Submission of a Signed, Stamped Audited Statement Score 0- 2marks (b) Computation of ratios Score  0 – 8 Marks Each of the Ratios shall be Evaluated based on the Submissions signed by the Auditor Section 7, Schedule 8 (a) All pages must be initialized and stamped by both a practicing Auditor registered with ICPAK and one of the Directors. Auditor’s practicing membership number from ICPAK must be indicated. (b) All pages must be initialized and stamped by the issuing bank

Financial Situation. 3.1 Financial Performance (a)Submission of audited balance sheets and other financial statements acceptable to the Employer, for the last two [2] years to demonstrate Financial Capacity: (b) Computation shall be made for the following Ratios and marks awarded to each of the ratios: -Working Capital Ratio - Turn Over ratio - Current ratio - Fixed Asset ratio (a) Submission of a Signed, Signed and Stamped Audited Statement Statements Score 0- 2marks (b) Computation of ratios Score  0 – 8 Marks Each of the Ratios shall be Evaluated based on the Submissions signed by the Auditor Section 7, Schedule 8 (a) All pages must be initialized and stamped by both a practicing Auditor registered with ICPAK and one of the Directors. Auditor’s practicing membership number from ICPAK must be indicated. (b) All pages must be initialized and stamped by the issuing bank

Financial Situation. 3.1 Financial Performance (a)Submission of audited balance sheets and other financial statements acceptable to the Employer, for the last two [2] years to demonstrate Financial Capacity: (b) Computation shall be made for the following Ratios and marks awarded to each of the ratios: -Working Capital Ratio - Turn Over ratio - Current ratio - Fixed Asset ratio (a) Submission of a Signed, Stamped Audited Statement Score 0- 2marks 0-2 marks (b) Computation b)Computatio n of ratios  Score  0 – 8 Marks Each of the Ratios shall be Evaluated based on the Submissions signed by the Auditor Section 7, Schedule 8 (a) All pages must be initialized and stamped by both a practicing Auditor registered with ICPAK and one of the Directors. Auditor’s practicing membership number from ICPAK must be indicated. (b) All pages must be initialized and stamped by the issuing bank