74.21—What are the ways a business may exit VetBiz VIP Verification Program status?
A participant may:
(a)
Voluntarily cancel its status by submitting a written request to CVE requesting that the “verified” status button be removed from the Vendor Information Pages database; or
(c)
CVE may cancel the “verified” status button for good cause upon formal notice to the participant. Examples of good cause include, but are not limited to, the following:
(3)
Failure by the participant for any reason, including the death of an individual upon whom eligibility was based, to maintain ownership, management, and control by veterans, service-disabled veterans or surviving spouses.
(4)
Failure by the concern to disclose to CVE the extent to which non-veteran persons or firms participate in the management of the participant.
(6)
A pattern of failure to make required submissions or responses to CVE in a timely manner, including a failure to make available financial statements, requested tax returns, reports, information requested by CVE or VA's Office of Inspector General, or other requested information or data within 30 days of the date of request.
(8)
Failure by the concern to pay or repay significant financial obligations owed to the Federal Government.
(9)
Failure by the concern to obtain and keep current any and all required permits, licenses, and charters, including suspension or revocation of any professional license required to operate the business.
(10)
Failure by the concern to provide an updated application (VA Form 0877) within 60 days of any change in ownership.
(d)
The examples of good cause listed in paragraph (c) of this section are intended to be illustrative only. Other grounds for canceling a participant's verified status include any other cause of so serious or compelling a nature that it affects the present responsibility of the participant.