able to be audited through a document and record management system; and secure and confidential in relation to commercially confidential information supplied to the Service Provider. Service Providers are required to conduct their own assessment and apply full analysis regardless of the level of assessment. Hence, Service Providers cannot merely send the report templates (e.g. through fax or e-mail) and ask the supplier/contractor to complete these reports. How should Service Providers prepare their reports under the Scheme? Service Providers are required under the Scheme to prepare the financial assessment reports in a standard and consistent format. There are Template Financial Assessment Reports under each level of assessment (Basic, Medium and Comprehensive) and these are included in Schedule 5 of the Scheme Conditions. The Service Providers are to provide electronic copies of the financial assessment reports to the Agencies and to DFSI. The use of Template Financial Assessment Reports allows for comparability over time and across various Agencies. The reports should include a clear recommendation, based on the current available information obtained, whether the contractor or supplier being assessed meets or does not meet the financial capacity criteria set out by the Department and whether the contractor or supplier does, or does not have, the financial capacity to deliver and complete the construction works or goods or services. The reports will also include an explanation on why the contractor or supplier does, or does not have, the financial capacity to deliver and complete the construction works or goods or services. The Service Provider should also provide a conclusion on whether the financial performance and liquidity of the contractor is acceptable or not acceptable and the key factors or consideration to support such conclusion. In some instances, there may be other factors or considerations in reaching a conclusion in order for a contractor or supplier to secure an acceptable conclusion. In these instances, the Service Provider must provide details of these factors or considerations in the report including a clear explanation of how these factors affected the overall financial assessment Note that any modification to the report templates prescribed under the Scheme or any abridged versions of such reports are also considered outside the scope of this Scheme. When should Service Providers submit their reports under the Scheme?
able to be audited through a document and record management system; and secure and confidential in relation to commercially confidential information supplied to the Service Provider. Service Providers are required to conduct their own assessment and apply full analysis regardless of the level of assessment. Hence, Service Providers cannot merely send the report templates (e.g. through fax or e-mail) and ask the supplier/contractor to complete these reports. How should Service Providers prepare their reports under the Scheme? Service Providers are required under the Scheme to prepare the financial assessment reports in a standard and consistent format. There are Template Financial Assessment Reports under each level of assessment (Basic, Medium and Comprehensive) and these are included in Schedule 5 of the Scheme Conditions. The Service Providers are to provide electronic copies of the financial assessment reports to the Agencies and to DFSI. The use of Template Financial Assessment Reports allows for comparability over time and across various Agencies. The reports should include a clear recommendation, based on the current available information obtained, whether the contractor or supplier being assessed meets or does not meet the financial capacity criteria set out by the Department and whether the contractor or supplier does, or does not have, the financial capacity to deliver and complete the construction works or goods or services. The reports will also include an explanation on why the contractor or supplier does, or does not have, the financial capacity to deliver and complete the construction works or goods or services. The Service Provider should also provide a conclusion on whether the financial performance and liquidity of the contractor is acceptable or not acceptable and the key factors or consideration to support such conclusion. In some instances, there may be other factors or considerations in reaching a conclusion in order for a contractor or supplier to secure an acceptable conclusion. In these instances, the Service Provider must provide details of these factors or considerations in the report including a clear explanation of how these factors affected the overall financial assessment Note that any modification to the report templates prescribed under the Scheme or any abridged versions of such reports are also considered outside the scope of this Scheme. When should Service Providers submit their reports under the Scheme?
9._fas_guidelines_for_applicants_march_2017.docx