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Financial Viability Assessments - Suggested Wording for Contracts & Tenders.

Date: November 2012

Here is a suggestion for some wording to include in your tender documents or contracts in relation to financial assessments or reviews. This is designed to make it easier to get the information and to be able to act appropriately when required.

  1. For Tenders:

Tenderers are required to undertake to provide to [Your Organisation] (or its nominated agent, Equifax Australasia Credit Ratings Pty Ltd) upon request all such information as [Your Organisation] reasonably requires to satisfy itself that Tenderers are financially viable and have the financial capability to provide the Services for which they are tendering and to otherwise meet their obligations under the Proposed Contract. [Your Organisation] reserves the right to engage (at its own cost) an independent credit financial assessor as a nominated agent to conduct financial assessments under conditions of strict confidentiality. For this assessment to be completed, a representative from Equifax Australasia Credit Ratings Pty Ltd may contact you concerning the financial information that you are required to provide.

The financial assessment is specifically for use by [Your Organisation] for the purpose of assessing Tenderers and will be treated as strictly confidential.

You agree to assist in the assessment process.


The Tenderers agrees that it will co-operate with an independent financial assessor during the conduct of financial assessments.  Yes____ No____

  1. For Contracts

It is a condition of contract that Contractors are financially viable and have the financial capability to provide the Services for which they are contracted and to otherwise meet their obligations under the Contract.  From time to time, Contractors may be required to undertake to provide to [Your Organisation] (or its nominated agent) upon request all such information as [Your Organisation] reasonably requires to satisfy itself that Contractors continue to meet this condition’s requirements. [Your Organisation] reserves the right to engage (at its own cost) an independent credit financial assessor as a nominated agent to conduct financial assessments under conditions of strict confidentiality.
For this assessment to be completed, a representative from the nominated agent may contact the contractor concerning the financial information that it is required to provide.

The financial assessment is specifically for use by [Your Organisation] for the purpose of assessing Contractors and will be treated as strictly confidential. The Contractor is required to co-operate with the independent financial assessor during the conduct of financial assessment.