Eligible Supplier Program
ELIGIBLE VIRGIN ISLANDS SUPPLIER PROGRAM VIEDC PROGRAM MANDATE The Commission shall endeavor to encourage and assist in the creation, development and expansion of locally owned businesses and industries originating in the US Virgin Islands. 29 V.I.C. Section 708(h) All VIEDC Beneficiaries are required to agree in writing to employ or contract, and to require all contractors retained by him to employ or subcontract, for services and to purchase goods, materials and supplies with and from those persons, firms or corporations who are 1. Residents of the Virgin Islands; or 2. Incorporated under the laws of the Virgin Islands; and licensed for one year or more prior to the initial date of any such employment, contract, subcontract, or purchase PROCUREMENT POLICY Provide for responsible United States Virgin Islands business enterprises to have the maximum practical opportunity to participate in procurement activities of beneficiaries, as suppliers of goods or providers of services. …
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ELIGIBLE VIRGIN ISLANDS SUPPLIER PROGRAM VIEDC PROGRAM MANDATE The Commission shall endeavor to encourage and assist in the creation, development and expansion of locally owned businesses and industries originating in the US Virgin Islands. 29 V.I.C. Section 708(h) All VIEDC Beneficiaries are required to agree in writing to employ or contract, and to require all contractors retained by him to employ or subcontract, for services and to purchase goods, materials and supplies with and from those persons, firms or corporations who are 1. Residents of the Virgin Islands; or 2. Incorporated under the laws of the Virgin Islands; and licensed for one year or more prior to the initial date of any such employment, contract, subcontract, or purchase PROCUREMENT POLICY Provide for responsible United States Virgin Islands business enterprises to have the maximum practical opportunity to participate in procurement activities of beneficiaries, as suppliers of goods or providers of services. Beneficiaries are required to do their utmost to facilitate the participation of USVI businesses pursuant to the VIEDC rules. Eligible Virgin Islands Supplier An individual – must be a resident of the US Virgin Islands A firm or partnership – each member must be a resident of the US Virgin Islands A corporation – must be incorporated in the US Virgin Islands, be in good standing and over 50% of the voting stock must be owned by residents of the US Virgin Islands Eligible Virgin Islands Supplier Criteria “Eligible Virgin Islands Supplier”is a responsible US Virgin Islands supplier of goods or services which meet the following criteria: 1. As of the date of the certification, the supplier has been licensed to do business and has actually conducted business in the US Virgin Islands for at least one (1) year: 2. The supplier physically maintains its principal place of business in the US Virgin Islands; and Eligible Virgin Islands Supplier Criteria 3. The supplier maintains an inventory in the US Virgin Islands appropriate to the size of its business; and 4. The supplier is in compliance with all US Virgin Islands laws and regulations; including all tax laws; and 5. The supplier is in good standing with all agencies and departments of the government of the US Virgin Islands to include the issuance of a current Certificate of Good Standing, Certificate of Existence or Certificate of Trade Name, as may be appropriate. Reporting Requirements Eligible Virgin Islands Suppliers must submit annually to the VIEDC: 1. Certificate of Good Standing or Certificate of Existence; 2. A current copy of their USVI Business License; and 3. Shall comply with any and all reasonable requests from the Commission, especially relating to goods and/or services provided to the Beneficiary. St. Thomas Office Tel: (340) 714-1700 Fax:(340) 774-8106 St. Croix Office Tel: (340) 773-6499 Fax:(340) 773-7701 Email: mabenjamin@usvieda.org