Construction Industry Development Board. Big words, I know, but all it means Construction companies that are required to be registered to CIDB for numerous types of construction work. That is correct.
So if you are an owner of a Construction Company and you are applying for tenders, you need to be registered under the Construction Industry Development Board in order to qualify for the necessary requirements for a tender.
Many times in the Construction Industry, when Municipalities are advertising tenders, one of the requirements are being registered under CIDB.
Alright, now that we know what CIDB is, let us have a look at the CIDB Class of Construction works that fall under CIDB. There are about twenty different Classes of Construction Works. Do not worry…I will not bore you with all the details. I am simply going to list them:
Now we will take a look at how your company determines their grading. This is called the Grading Designation Calculator and can be done on the CIDB Website. All that is required of your business is the financial documents. Well, you are looking at your Profit and Loss for the Financial Year, the largest contract value that was awarded to your company and you will also need the capital value of the business.
Alright, so that concludes my discussion for the day. I must admit that it was quite fun sharing my information with you today. I can only hope that somewhere out there, a subscriber has learned something new today, I know I did.