Because of the establishment of reasonable business procedures and X's good faith efforts
to ensure compliance with those procedures, X has established reasonable cause and good faith that would prevent the application of the negligence penalty for failing to keep adequate books and records or to substantiate items properly.
Thus, even after the expiration of the transition period, no penalty should be imposed where the taxpayer has made a good faith effort
to comply with the State's EFT procedures.
The certifications intent is to document the good faith efforts
undertaken by the Consultant in soliciting and utilizing DBE firms to meet the DBE participation requirements for the contract/project.
Although they made good faith efforts
to make timely allocations, they often paid punitive taxes for their inadvertent mistakes.
Good Faith Efforts
To Meet Contract Dbe Goal - If The Contract Dbe Goal (if Any) Cannot Be Fully Met Through Dbe Participation On This Contract, The Bidder Must Submit A Signed Letter On Its Company Letterhead And Supporting Documentation To Show That All Reasonable "Good Faith Efforts
" Were Made Toward Fulfilling The Required Dbe Goal.