FICA

According to the Financial Intelligence Centres website (https://www.fic.gov.za/), the Financial Intelligence Centre Act, 38 of 2001, also referred to as FICA, is a law that is designed to combat money laundering. Money laundering is the abuse of financial systems by hiding and/or disguising the proceeds of crime.

This is why the banks and other accountable institutions us have to ask for very specific information from you and where you have to provide up-to-date proof of that information in order to legally do business with that institution. (RBA, 2013)

Rules

1. Should you be purchasing in your capacity, please insure that you bring the following documentation with you: 
     a. Valid ID document 
     b. Proof of residence 
2. Should you be purchasing on behalf of someone else, please insure that you have the following documentation with you: 
     a. A letter of authority stating that you have beengiven the right / authority to bid on behalf of the person stated in the letter. 
3. Should you be purchasing on behalf of a company,please ensure that you have the following documentation: 
     a. A letter of authority from the company on whose  behalf you are bidding authorising you to bid on their behalf. 
     b. A certified company resolution authorising you to bid on their behalf.