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HOW TO PROCESS A PENCOM, ITF, NSITF CERTIFICATES,& SUCCESSFULLY SUBMIT A TENDER

Started by jchima14, 2020-06-04 15:10

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jchima14

The economic system of Nigeria being a blend of Government and private participation calls for a synergy between both partners in progress to formulate a course of action that will ensure the best qualified contractors, firms and companies in line with the Public Procurement Act (PPA) 2007 secure the right or license to implement Government projects that best suits public interest.
On the strength of the above premise, below are the eligibility requirements prospective bidders are obligate to present for a successful bid.
Firstly, before an entity can be classified as a company capable of processing a PENCOM, ITF and NSITF Compliance certificate for the purpose of a tender/expression of interest, such a body is expected to have been appropriately registered with the Corporate Affairs Commission and a Certificate of incorporation issued. Other documents issued upon completion of the registration process are Certified True Copies of form CAC1.1 for newly registered companies and form 2A, 2.1, and 7A  for older companies.
For a successful tender/expression of interest to be accomplished, a copy of the Company's income Tax Clearance Certificate (TCC) for the last three years preceding the invitation for tender/expression of interest must be presented.
To secure a TCC, a company must obtain a Company's Taxpayers Identification Number (TIN) from a Federal Inland Revenue Services (FIRS) office. Then an application for the Company's Income TCC has to be made to the FIRS with the following documents.
For new companies less than 6months:   
1.   Duly Completed Tax registration input form
2.   Completed FIRS questionnaire for new taxpayers
3.   A copy of the Certificate of incorporation, Memorandum and Articles of Association
4.   Letter of appointment of a tax adviser and letter of acceptance.
5.   Completed VAT registration form (download link - www. ibechidoassociates.com/download-legal-documents/)
For companies older than 6months
1.   Statement of Affairs or Audited Account.
2.   Evidence of payment of pre-operational levy.
An evidence of current pension (PENCOM) compliance certificate valid till 31st December, of the bidding year is vital to a successful bid.
The following are the process and documents required before a Compliance certificate can be issued
1.   Photocopy of certificate of incorporation
2.   FIRS Tax Identification Number (TIN)
3.   Processing of an EMPLOYER CODE with PENCOM
4.   Registration of 3staff with a pension Fund Administrator (PFA)
5.   Remittance of 18% of at least 3 staff salaries for Maximum of 36months
6.   Processing of Group life insurance to cover at least 3 staff of the company
In addition, a proof of current Industrial Training Fund (ITF) Compliance certificate valid till 31st December, of the bidding year is fundamental for a successful tender.
The following are essential for registering an employer for an ITF compliance certificate:
1.   Duly completed ITF form 7A (download form link - www.ibechidoassociates.com/download-legal-documents/)
2.   Original CAC certificate for sighting
3.   Tax Clearance certificate
4.   Current Audited Account
Furthermore, an evidence of current Nigerian Social Insurance Trust Fund (NSITF) Compliance certificate is key to a successful bid.
Below are indispensable for an application for the Certificate:
1.   Tax Clearance certificate
2.   CAC Certificate of Incorporation.
3.   Evidence of remittance of 1% of 5 staff total salaries for a Maximum period of 72months.
In conclusion, for a successful bid to be achieved an evidence of Interim Registration Report from the National Database of Federal contractors, a Sworn affidavit, an Audited Account for the last 3years preceding the bid, Evidence of financial capacity to execute the contract are crucial.
For more detailed information on the above topic please visit https://tinyurl.com/y9zth6d4
Okpi, Ibe Chinedu is the Principal partner in the Law Firm of Ibe, Chido and Associates (www.ibechidoassociates.com), with an extensive knowledge in Corporate and Commercial Law Practice. He can be contacted via phone: 07069279374 or email: info@ibechidoassociates.com.


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