APPLICATION FOR FACTORY SPACE

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application_for_factory_space_form_1.pdf300 KB

Notes

  • If the company is not yet in operation, give particulars of the proposed company. If the applicant is not a company, give particulars of the proprietorship.
  • All currency to be quoted in Barbados dollars
  • In case of a new operation, this application must be accompanied by a projected Cash Flow Statement for each of the first two years of the proposed operations, along with a Market Survey outlining the basis of the applicant’s sales projections. If the enterprise is already in operation, Audited Balance Sheets and Profit and Loss Statements for the past two years of the company’s existence are required.
  • Please provide complete answers to all questions and use separate sheets where necessary.
  • If the Corporation agrees to construct a factory, the applicant would be required, prior to the commencement of construction, to:-
    •  sign a Construction Agreement and Lease Agreement; and,
    •  deposit an estimated year’s rent, i.e. 1/15 of the estimated cost of erecting the factory.
  •  Rent is due from the date of occupancy of premises and is payable monthly in advance, except where otherwise agreed by the Corporation.
  •  Until a formal Lease Agreement is signed, occupancy of premises is on a month-to-month basis and may be terminated by one month’s notice on either side.

ADDENDUM

Please note that each completed application form must be accompanied by the
following:

  • Projected Monthly Cash Flow Statements (for the 1st year of operation)
  • Marketing Survey
  • Registration of Business Name Certificate, Certificate of Incorporation and supporting Incorporation documents, as filed at the Corporate Affairs & Intellectual Property Office.
  • Evidence of at least three (3) months’ working capital
  • Confirmation of financing
  • Audited Balance Sheet for the past 2 years (for existing companies)
  • Audited Income Statement for the past 2 years (for existing companies)
  • Projected Balance Sheet (2 years) for new companies
  • Projected Income Statement (2 years) for new companies

Note therefore that Section 3 for the Application of Factory Space cannot be ignored. The omission of any of the required information will delay the processing of any application for factory space.

Section I

COMPANY/BUSINESS