Objectives

The primary objective is to appoint a qualified contractor to conduct a comprehensive physical verification of all tangible assets owned by Maluti TVET College. This process aims to reconcile physical inventory with financial registers, eliminate record discrepancies, assess asset conditions, and establish a reliable, auditable baseline for institutional asset management and financial reporting.

Scope of Work

• Execute a complete on-site physical count and inspection of all college assets across campuses, departments, and storage facilities.
• Verify asset existence, location, custodianship, and operational status against existing financial and inventory databases.
• Categorise assets by condition (operational, surplus, damaged, obsolete) and recommend appropriate disposition actions.
• Produce detailed verification reports, including variance analysis, reconciliation statements, and strategic recommendations.
• Ensure all activities align with public sector accounting standards, data protection regulations, and institutional governance frameworks.

Technical Requirements

• Demonstrated capacity to manage large-scale asset verification projects within educational or public sector environments.
• Utilisation of modern data capture and tracking technologies (e.g., barcode scanners, RFID, mobile inventory applications).
• Ability to validate, cleanse, and import verified data into existing financial or enterprise resource planning (ERP) systems.
• Robust quality assurance protocols, including spot-checking, supervisor validation, and error-resolution procedures.
• Secure handling and encryption of sensitive institutional data throughout the verification lifecycle.

Skills Requirements

• Qualified asset managers, inventory auditors, or surveyors with proven experience in public institution asset reconciliations.
• Strong analytical competencies to interpret discrepancies, identify root causes, and formulate corrective action plans.
• Proficiency in asset management software, spreadsheet modelling, and standard reporting tools.
• Effective project management skills to coordinate field teams, adhere to strict timelines, and deliver milestone-based outputs.
• Familiarity with South African public procurement regulations and Broad-Based Black Economic Empowerment (B-BBEE) compliance frameworks.

Key Terms & Clarifications

Physical Assets Verification: A structured, on-the-ground audit process where tangible items (furniture, machinery, IT equipment, vehicles, etc.) are physically counted, inspected, and cross-referenced with financial ledgers to confirm accuracy, accountability, and condition.

B-BBEE Compliance: A national policy framework designed to promote economic inclusion and redress historical inequalities. Tender evaluations will factor in the bidder’s B-BBEE status as a mandatory scoring criterion.

Note: Detailed submission formats, evaluation matrices, contractual clauses, and performance milestones are specified in the official tender documentation. Late submissions will be disqualified, and the institution reserves the right to award contracts in whole or in part.