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Need a 'Letter of Good Standing' to prove your company's registered with COID? You can now get yours online!

by , 02 September 2014
If you've submitted a tender or do work on somebody else's property, you need a Letter of Good Standing.

This letter verifies that your company actually exists, has paid all its statutory dues to COID, met all its filing requirements and, therefore, is authorised to transact business.

But how do you get this letter?

Read on for the answer...

 

Great news! If you've met the following criteria, you can request your Letter of Good Standing online

 
Last month, the Compensation Fund launched a new service that enables you to print and verify your Letter of Good Standing online. This after companies complained that getting their letter was taking too long. 
 
If you've experienced the same problem and fulfil the following criteria, as set out by the Department of Labour, you can make use of this handy service: 
 
  • You, the employer, are registered with the Compensation Fund as per section 80 of the COID Act
  • You've submitted all your returns of earnings as per section 82 of the COID Act
  • The Compensation Fund has fully assessed your company as per section 83 of the COID Act
  • You've paid/settled all outstanding debt as per section 86 of the COID Act.
 
If you tick all these boxes, you can log onto http://cfonline.labour.gov.za/OnlineSubmissions/ and request yours. 
 
Once you receive it, check it contains these seven things to ensure your letter is legit…
 
************** Recommended for you ***************
 
Do you know when to claim from COID? Shocking survey reveals 5 out of 7 managers don't! 
 
 
************************************************
 

Here are the seven things a legitimate Letter of Good Standing will include

 
To protect yourself against Letter of Good Standing fraud, check your letter contains:
 
  1. The Department of Labour logo
  2. A barcode with your certificate number
  3. The date of issue
  4. An expiry date
  5. A watermarked South African Coat of Arms
  6. A signature from the Compensation Commissioner
  7. And Compensation Fund logo
 
There you have it. Don't wait weeks and weeks to get your Letter of Good Standing. Logon to the DoL's new site today and do it online. 


PS: We strongly recommend you check out the COID Compliance Guide. It has everything you need to fully comply with the COID Act.
 


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