Before you can get a Letter of Good Standing from the Compensation Fund, you need to be ‘COID Registered’. This basically means that the Compensation Fund lists you on their database as a South African Company who has a work environment that qualifies for Employees to work in. If an Employer is registered with the Compensation Fund as per section 80 of the COID Act, he/she can apply for a Letter of Good Standing from the Compensation Fund.
Your Letter of Good Standing states that you are in good standing with the Compensation Commissioner and you have met all their requirements. This letter can be used for all Tenders and Contracts requesting it.