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CIDB GRADE 7

HomeCIDB GRADE 7

CIDB GRADE 7 REGISTRATION

Welcome to our CIDB registration services.

We are here to help you with the registration of your CIDB grade 7.

In order to qualify for the grade, you need to have completed at least, one single large construction project between the values of R9 million to R30 million within the past 5 years.

In addition to the above, your financial statements must reflect, a net assets value in excess of R4 million as well as a revenue of more than R20 million.

CIDB GRADE 7 APPLICATION REQUIREMENTS

The CIDB requires the following documents when applying for the CIDB grade 7.

 

NB. We assist construction companies in putting the above documents together.

EAAB Audit Report Submissions- Fixonate
Tax registration- fixonate

FINANCIAL CAPABILITY - CIDB GRADE 7

Financial capability refers to the company’s future financial abilities to carry out construction projects.

The assessment is done by looking at the latest set of annual financial statements submitted.

The CIDB will inspect if the financial statements’ revenue is in excess of R20 Million and that the net assets value is over & above R4 Million.

In addition to the above, the financial statements must at least meet the following minimum requirements

  • Revenue from construction contracts must be disclosed in terms of IFRS 15.
  • Cash flow figures must not deviate by more than 10% from the track record bank statements submitted.
  • Cash & cash equivalents must match the figures on the bank statements as at balance sheet date.
  • The financial statements net asset value must not contradict the track record submitted.
  • They must be signed off in line with the company’s public interest score.
  • Overall, the financial statements must be in compliant with IFRS & they must be signed off by an accountant or auditor in good standing with a professional body as at the date of assessment.

Remember, financial statements can make or break your CIDB grade 7 application.

We also assist in drawing up or assessing financial statements before submitting to the CIDB for compliance.

WORKS CAPABILITY - CIDB GRADE 7

Works capability, refers to the Rand value of the single largest construction project ever carried out by your company within the past 5 years.

To qualify for the CIDB Grade 7’s works capability, you need to produce documentary evidence that proves that you did indeed satisfactorily complete the project.

This documentary evidence is what is referred to as the track record.

It has to be in the form of a signed project contract, sub-contract or award letter from the employer.

It must also be accompanied by a set of bank statement transactions highlighted, that add up to the exact contract value or the contract value plus any other variation orders.

A completion certificate must also form part of the track record to prove that the project was indeed completed satisfactorily.

A poorly constructed track record can make or break your CIDB grade 7 application.

TOTAL FEES PAYABLE - R9,750 plus R5,250

The CIDB charges R750 for the application fee, as well as R9,000 for the annual fee.

In total, it will cost you R9,750 in terms of the CIDB fees.

On our side, we charge a facilitation fee of R5,250.

This includes the systematic assessment, advice & possible correction of your track record as well as the financial capability score.

HOW LONG DOES IT TAKE FOR THE CIDB GRADE 7 - 21 DAYS

With a properly constructed track record, your CIDB grade 7 shouldn’t take more than 21 working days.

What normally creates delays or disqualification, is the submission of a poorly constructed track record as well as financial statements.

OUR FACILITATION SERVICES - HOW IT WORKS

  • Simply fill in our online application form thus telling us more about your CIDB registration requirements.
  • We shall then get back to you to discuss your specific CIDB grade 7 registration requirements.
  • We shall agree on the costs as well as the specific documents required from you.
  • You will then be requested to email us the documents at “admin@fixonate.co.za”.
  • Once we receive your documents, we shall commence by assessing them for compliance.
  • If there are any corrections to be made, we shall advise & effect those changes if necessary.
  • Once the documents are fully ready for submission, we shall queue & submit them on your behalf.
  • We shall then email you proof of submission together with an invoice.
  • At this point, you will then be required to settle the agreed upon invoice in full.
  • We shall continue to follow up on your CIDB application until it is approved.
  • You will also be able to monitor progress of your application directly on the CIDB’s website by clicking here.