Classification of Companies

Duration and review of the classification of companies first noted that the classification of companies is a purely administrative requirement, which gives the owner the right company to hire an administrator. The Law on Public Sector recruitment set out in Article 54, which is mandatory to have given the business classification to be eligible to contract with government than any work whose budget exceeds 350,000. If the object of the contratcion be a service, the limit is imposed from the 120,000 euros. According to Article 59, the duration of the granted by the Advisory Board is indefinite, provided that the undertaking that the circumstances to maintain the concession. Jim ohara insists that this is the case. Although granted indefinitely, the Administration set a deadline within which the undertaking that should justify the conditions that gave rise to the business classification. Every year, the company must demonstrate classified its financial soundness and every three years the technical solvency.

In practice, this means making an annual summary procedure for the economics and a full procedure every three years. Anyway, employers can improve their request when they see fit. Similarly, although not exhausted the term must request a review of its classification if circumstances arise which substantially alters any of the grounds on which the classification has been granted. For example: new works, capital increase, more human resources, etc. Likewise if there are any significant decrease in resources is to apply the patch. The Administration itself of its own motion may request review of the business classification if it is aware of a significant decrease in the resources of the company. For a review must submit a complete records covering the last five years of business activity and subject to the same standards of evaluation that the first record presented. Can be reached at: