When it comes to Socio-Economic Development (SED), most companies have quite a good grasp of how to maximize their score. However, the SED score is till reliant on a verification agency finding the information sufficient to substantiate the SED claim. For this reason we provide a list of potential documentation as well as the reason why they may be required:
- Your Company's Audited Financial Statements and/or Management Accounts to confirm NPAT / Leviable Amount (Construction BEP Charter) / Turnover.
- Proof of the percentage of black benefiting individuals of the SED organisation. This could be in the form of a B-BBEE certificate (not older than 12 months) stating the black benefiting percentage or a letter from the SED organisation confirming this percentage (can be part of the acknowledgement letter discussed below).
- Agreement between your company and the SED beneficiary to prove an SED relationship - although most verification agencies do not require this to be in place for scoring purposes.
- An acknowledgement letter from the SED beneficiary confirming that the initiatives and/or contributions as stated in the agreement have actually been implemented. This may also include the percentage of black beneficiaries. Please find attached a template of an acknowledgement letter.
- Proof of the contribution value. This could be in the form of a bank deposit slip or bank statement (confirming the amount of the SED contribution), independent valuation letter of items granted / donated, proof of the cost incurred (where cost were incurred to assist the SED beneficiary), etc.
- Tourism Charter only:
- Status of TOMSA levy collector
- Proof of number of new recruits - possibly through employment contracts
- Proof of number of black new recruits with no prior work experience - possibly through employment contracts and ID documents.
P.S. This document serves only as a guide of the most commonly requested documents. Certain verification agencies may require more or less information.