The best Annual Turnover (AAT) generated by the contractor for the past 5 financial years of the enterprise is determined from the
annual financial statements of the enterprise certified by an auditor, or certified management accounts if these are not available.
The pro forma summarized financial statement must be submitted.
The largest construction works contract by value (including VAT) that the enterprise has to complete during the past 5 years must
be declared. Full particulars of the contract are required, for verification purposes.
Contract Award date - The date on which a contractors offer to perform a construction works contract is accepted in writing
by the employer.
Contract Start date - The date on which the site is handed over to the contractor by the employer.
Practical Completion date - The date upon which the practical completion certificate is issued for the whole of the works.
Final Completion date - The date upon which the employer pays the contractor all amounts which he or she believes is owed in
terms of the contract.
Employers Representative - a natural or juristic person or partnership who, although not being a party to a construction works
contract, has authority to act for the employer or to perform a defined administrative role in terms of the contract.
(the employer representative is referred to in some contracts as the project manager, the engineer, agent or principal agent)
Available capital is determined from a combination of the net asset value of the enterprise and the total value of sponsorship that may be offered
to the enterprise by other parties.