POLICY GUIDELINES FOR THE PURCHASE AND SALE OF FIXED PROPERTY FOR AND ON BEHALF OF THE SOUTHERN AFRICA UNION CONFERENCE
The SAU Working Policy Manual sets the scene for procedures to be followed when purchasing or selling fixed property for or on behalf of the Seventh Day
In addition to the relevant policies, Sedcom and SDA Welfare Services wish to draw your attention to additional procedures which should be followed to ensure that such transactions proceed smoothly.
PURCHASING AND SELLING PRINCIPLES:
The transaction is then referred to the next higher body for discussion and approva –
If approved, the Minute reflecting the decision is sent through to SEDCOM or SDA Welfare Services (will only refer to SEDCOM for rest of document) for discussion at the next Board Meeting. A copy of the “Offer to Purchase” or “Acceptance of Sale” document is also sent through to this office. The SEDCOM BOARD must then approve the relevant purchase/sale and provide a Resolution to this effect. Please Note: SEDCOM Board is unable to consider any transaction if not approved by the relevant sub organisation. Once considered and then approved by the SEDCOM BOARD, all subsequent documents (ie excluding the initial “Offer to Purchase” etc.) must be signed by the Secretary of SEDCOM (ANDRÉ JOHAN SCHOLTZ) In the event that an application for a bond is to be made, the sub organisation (Conference or Institution?) must take a separate action in which SEDCOM is requested to apply for such a bond and a Minute from the Conference Executive Committee authorising said application must also be provided to SEDCOM for consideration by the BOARD. SEDCOM must also be provided with a plan of finance illustrating how the sub organisation intends to finance the purchase and service any bond in this regard.