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SEIFSA

BBBEE Legislation

By | Economic & Commercial | No Comments

REVISED BROAD-BASED BLACK ECONOMIC EMPOWERMENT (B-BBEE) CODES OF GOOD PRACTICE

Cabinet noted the revised B-BBEE Codes of Good Practice 2012 and approved that these be published for public comment. The comment period closed in December 2012.

The revised Codes will enhance the implementation of B-BBEE in a meaningful and sustainable manner, and contain principles and guidelines that will facilitate and accelerate the implementation of B-BBEE. The purpose of the Codes is to assist and advise the public and private sectors in the implementation of the B-BBEE Act.

SEIFSA

In Perspective

By | Economic & Commercial | No Comments

In Perspective – Nov 2013

1. Latest Statistics

See Annexure for October Statistics.

2. Price and Escalation Report

See Annexure for latest Price Escalation Report

EC Staff met Louis Otto of ETSA on the 3rd of September, for a liaison meeting regarding progress with the uptake of the ETSA indices and future cooperation between SEIFSA and ETSA.

SEIFSA

Monthly Statistics Reports

By | Economic & Commercial | No Comments

Monthly Statistics Reports – 2013

 

Statistics Report – November 2013

Metals and Engineering Production and Confidence

The August data on volumes of production and sales have been published by Statistics South Africa on the 10th of October.

 Steel and Engineering Statistics Report – November 2013


 Statistics Report – September 2013

Metals and Engineering Production and Capacity Utilisation

The latest (June) data on volumes of production and sales have been published by Statistics South Africa in the beginning of August.

Steel and Engineering Statistics Report – September 2013

SEIFSA

Contract Price Adjustment

By | Economic & Commercial | No Comments

Contract Price Adjustment

Most companies in the industry don’t sell directly to consumers but to national, provincial or local governments, parastatals, private corporations or other companies in the industry requiring inputs for their own production. Lead times between tender, order and delivery can be considerable – often a year or more.

Therefore, it is important, especially in times of high inflation, for tendering companies to have a way of adjusting their contract prices to compensate unforeseen cost increases during the period between tender and delivery.

The division consults on CPA formulas and escalation calculations which allows tenderers to adjust delivery prices in line with unforeseen cost increases. This SEIFSA service assists companies to conclude contracts that allow for price adjustment provisions that are fair and equitable to both parties. The value of this service to companies is in excess of R7 billion a year in escalation claims on contracts.

The monthly SEIFSA Price and Index Pages publishes 140 indices that measure changes in the costs of manufacturing inputs in the industry. By including data from these indices in a Contract Price Adjustment (CPA) formula, a company can calculate the average changes in costs of labour, steel, transport and other inputs affecting the final cost of manufacture.

The division regularly reviews the make-up of the various indices generated by SEIFSA in order to ensure that they remain relevant and accurate.

The titles in the series of CPA handbooks, published by EC Services, are Theory of Price Adjustment, Price Adjustment Calculations and Price Adjustment in Practice.

Recognised as the experts on CPA, the division holds regular practical workshops on price adjustment provisions countrywide.

Contract Price Adjustment
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