Answer. COIDA means (Compensation for Occupational Injuries and Diseases Act), it is a government institution that was established to protect employees as well as employers if an injury/disease/death should occur on the job. In terms of labour law, the business must register with the Compensation Fund as soon even one person has been employed (to receive a salary).
Answer. Share certificates are used to confirm the percentage of ownership allocated to each shareholder (owner).
Companies are registered with a certain amount of authorized shares (normally 100, 1000 or 10 000 shares), which must be allocated to shareholders (owners) after the company registration is completed.
A single director can also issue all of the shares to themselves and be the only shareholder of the company.
Answer. A company profile is essentially a resume/CV for your company. A company profile describes the company’s business activities, mission, history, resources and capability to deliver a product or service.
Answer. A company profile is used to provide information about the company. It can also be used as a marketing tool.
A company profile may be a requirement for some tenders or contracts for the simple purpose of comparison - to compare the experience and history of each applicant before making a decision on contract award.
Answer. A company profile would usually include the following:
- A summary of the company's background - More information about the company's services and/or products - The company's vision, mission, goals and ambitions - A list of the company's qualifications - All the relevant compliance registrations and legal information - The company logo - The company's contact details
Answer. The Central Supplier Database (CSD) is the official government database for all organisations who wish to do business with the government. The purpose is centralisation of supplier data to simplify government procurement processes.
Answer. Unemployment Insurance Fund (UIF) provides short-term relief to employees when they become unemployed or are not able to work because of adoption leave, maternity, or an illness.
Answer. The Construction Industry Development Board (CIDB) is a national body established to oversee sustainability and growth of construction enterprises in South Africa. The CIDB sets national standards for construction delivery and contracts. The CIDB also maintains a national Register of Contractors and a Register of Projects.
Answer. When starting a cleaning company, one of the most important registrations would be at the NCCA (National contract cleaners association). Upon succesful registration, your company will be listed as an officially registered cleaning company and you would be able to apply for cleaning contracts and tenders.
Answer. A company that specializes in constructing new housing or does improvements to housing structures must be registered at the NHBRC, in order to prove that the company is compliant, has the knowledge and required assets to carry out the task. Once the NHBRC registration is completed, the company will be seen as compliant and will be able to apply for tenders and contracts.
