Broad-Based Black Economic Empowerment Act definition

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003) as amended by Act No 46 of 2013;

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic

Examples of Broad-Based Black Economic Empowerment Act in a sentence

• B-BBEE Broad-Based Black Economic Empowerment B-BBEE status level of contributor The B-BBEE status received by a measured entity based on its overall performance using the relevant scorecard contained in the Codes of good practice on Black Economic Empowerment, issues in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act.

• Broad-Based Black Economic Empowerment Act The Broad –Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003).

• Bidders wishing to be awarded points in terms of the Broad-Based Black Economic Empowerment Act must submit a certified copy of their Balanced Broad-Based Black Economic Empowerment Score Card.

• If the Company becomes aware or has a reasonable suspicion that any fronting (the offense under section 13O(1) of the Broad-Based Black Economic Empowerment Act, No. 53 of 2003 (‘BBBEE Act’) and the Broad Based Black Economic Empowerment Amendment Act No. 46 of 2013) is taking or has taken place, then the Company may suspend and/or terminate the Contract with immediate effect without any liability for any Losses.

• Points are based on a tenderer’s scorecard measured in terms of the Broad-Based Black Economic Empowerment Act (B-BBEE, Act 53 of 2003) and the Regulations (2017) to the Preferential Procurement Policy Framework Act (PPPFA, Act 5 of 2000).

More Definitions of Broad-Based Black Economic Empowerment Act

Broad-Based Black Economic Empowerment Act means the Broad‐Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 53 of 2003 and Codes of Good Practice pertaining thereto.

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003); 2.6. “comparative price” means the price after the factors of a non-firm price and allunconditional discounts that can be utilized have been taken into consideration; 2.7. “consortium or joint venture” means an association of persons for the purpose of combining their expertise, property, capital, efforts, skill and knowledge in an activity for the execution of a contract; 2.8. “contract” means the agreement that results from the acceptance of a bid by an organ of state; 2.9. “EME” means any enterprise with annual total revenue of R5 million or less; 2.10. “Firm price” means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition, or abolition of customs or excise duty and any other duty, levy, or tax, which, in terms of the law or regulation, is binding on the contractor and demonstrably has an influence on the price of any supplies, or the rendering costs of any service, for the execution ofthe contract; 2.11. “Functionality” means the measurement according to predetermined norms, as set out in the bid documents, of a service or commodity that is designed to be practical and useful, working or operating, taking into account, among other factors, the quality, reliability, viability and durability of aservice and the technical capacity and ability of a bidder; 2.12. “non-firm prices” means all prices other than “firm” prices; 2.13. “person” includes a juristic person; 2.14. “rand value” means the total estimated value of a contract in South African currency, calculated at the time of bid invitations, and includes all applicable taxes and excise duties; 2.15. “sub-contract” means the primary contractor’s assigning, leasing, making out workto, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract; 2.16. “total revenue” bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms ofsection 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007; 2.17. “trust” means the arrangement through which the property of one person is made over or bequeathed to a trustee to administer such property for the benefit of another person; and 2.18. “trustee” means any person, including the founder of a trust, to whom prope...

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2013 (Act No. 46 of 2013);

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic, 2000 (Act No. 5 of 2000);

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);2.5. “EME” means an Exempted Micro Enterprise in terms of a code of good practice on black economic empowerment issued in terms of section 9 (1) of the Broad-Based Black Economic Empowerment Act;2.6. “Functionality” means the ability of a tenderer to provide goods or services in accordance with specifications as set out in the tender documents.2.7. “prices” includes all applicable taxes less all unconditional discounts;2.8. “proof of B-BBEE status level of contributor” means:2.8.1. B-BBEE Status level certificate issued by an authorized body or person;2.8.2. A sworn affidavit as prescribed by the B-BBEE Codes of Good Practice;2.8.3. Any other requirement prescribed in terms of the B-BBEE Act;2.9. “QSE” means a qualifying small business enterprise in terms of a code of good practice on black economic empowerment issued in terms of section 9 (1) of the Broad-Based Black Economic Empowerment Act;2.10. “rand value” means the total estimated value of a contract in Rand, calculated at the time of bid invitation, and includes all applicable taxes;3. POINTS AWARDED FOR PRICE3.1. THE 80/20 OR 90/10 PREFERENCE POINT SYSTEMS

Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003); “co-operative” means a co- operative registered in terms of section 7 of the Cooperatives Act, 2005 (Act No. 14 of 2005);