ICV REGISTRATION
ICV registration
ICV or In-Country Valuation program will help a company or organization to identify their contribution to the UAE’s national economy. This program was introduced by ADNOC which aims to improve the economic outlook of UAE by supporting its local economy. This program also seeks to improve the government procurement procedures to achieve development goals, economic visions, strategies and plans of the local businesses.
Who requires ICV Certificate in UAE?
All the business entities involved in supplying directly or indirectly as sub-suppliers to ADNOC and the following participating entities are required to attain and submit the ICV Certificate.
ADNOC
Abu Dhabi Department of Economic Development
Mubadala
Aldar Properties
ENEC
Abu Dhabi Ports
During the supplier registration phase with the Department of Government Support Abu Dhabi you will be asked to show the ICV certificate and ICV score in Dubai, of your company to complete the registration process.
ICV Certificate - Guidelines
These are the strictly mentioned points that are to be kept in mind before initiating the process for ICV certification.
Each trade license of a Company is considered an independent legal entity for the ICV Certification process.
Companies which possess different branches in the same Emirate with similar activities and ownership can get one unified ICV Certificate
Any misleading or misrepresentation in a company’s submission will lead to
penalties
The validity of the ICV certificate is 14 months (from the date of issuance of audited
financial statements)
The company will not be able to change or remove its empaneled Certifying Body once they are appointed to verify them for certification.
The company must include all costs and revenues of the firm during its financial
year.
All figures in the ICV Template must be in standard currency format, that is AED
