How to Register for ICV Program in the United Arab Emirates
20/05/2024
The In-Country Value Certificate Program (ICV) is a UAE-wide initiative to increase domestic value-added activities in the UAE. Reyson Badger provides the best services in obtaining the ICV certificate and developing an ICV score improvement plan for companies that work directly as suppliers or indirectly as sub-suppliers with UAE Government and Semi-Government Departments. We help in the following ways:
- Recommendation for organizational process restructuring
- Creating an ICV template
- Continuous monitoring is required to maintain a high ICV score.
- Creating ICV improvement plans
- Expert staff with the ability to improve ICV score
Companies are in a favorable position during the ADNOC tender process if they receive a high ICV score. ADNOC, Aldar, the Economic Department, the Abu Dhabi Ports In-Country Value Certification, and the factors affecting ICV score are all things that Reyson Badger helps its clients understand.
One of the bases in ADNOC's acquisition process is ICV in the UAE. The assessment relates to all contracts that have been given. The ICV obligations of suppliers will be affected differently depending on whether they deal with ADNOC directly or indirectly. Suppliers must obtain an ICV certification in the UAE and create an ICV improvement plan there either on their own or with the assistance of contractors, depending on how they are doing business with ADNOC.
What exactly is an ICV Certificate?
The Abu Dhabi National Oil Company (ADNOC) launched the In-Country Value Certificate program on April 1, 2018, and it is now in effect. The program requires all UAE-based goods suppliers to obtain an In-Country Value Certificate from the ADNOC ICV Certificate agency. In addition, suppliers must obtain the calculated ICV score demonstrating their contribution to the previous fiscal year in order to deliver the ICV. Suppliers who do not wish to obtain the ICV Certification will be able to participate in the ADNOC group tender, but their ICV score will be considered zero.
ICV Certificate Program Key Areas in Dubai, UAE
The following are the various strategies under consideration by ADNOC:
- Organizing training and learning sessions/programs for UAE nationals in order to improve the local workforce's skills and expertise.
- Developing CAPEX and OPEX plans to attract foreign investment in the UAE.
- Developing a long-term, mutually beneficial relationship with suppliers.
Aspects of the In-Country Value Certificate in the UAE
- To be considered for ADNOC orders/contracts, all suppliers must obtain an ICV Certificate from an approved ADNOC agency in Dubai, UAE.
- In the absence of a certificate, suppliers may still apply for group tenders, but their ICV score will be zero.
- The financial reports used to obtain an ICV certificate should be no more than two years old, audited, accurate, and error-free.
- The ICV certificate in Abu Dhabi, UAE has a validity period of up to 18 months from the date of issue or the date of new financial statements.
- Within two months of the issuance of new audited financial statements, all suppliers must receive their revised ICV certificate.
- ICV certification in Dubai, UAE is required for all companies that want to do business with ADNOC and participate in the tender.
How to Register for the ICV Platform
- Go to moiat.gov.ae/en/icv.
- Log in with UAE Pass or create an account in the MOIAT "Single Sign On" (SSO) portal.
- If your company does not already have a profile, please register it by clicking the "Register Company" button. (If you are joining an existing company, enter the email invitation code.)
- Finish the MOIAT Icv registration Process. MOIAT approval must be obtained in a maximum of three working days.
Process of applying for an ICV Certificate via the ICV Platform (referral client and/or agreed-upon price)
- Go to moiat.gov.ae/en/icv.
- Log in with UAE Pass or create an account in the MOIAT "Single Sign On" (SSO) portal. You will then be redirected to the "Main Page" of the ICV Platform.
- Select the "Bidding Process" tab.
- To begin a new bidding procedure, click the "Select CBs" button.
- Choose which Certifying Bodies you want to receive offers from the list provided, and then complete the questionnaire. (NOTE: Please choose a CB from the list, as we have already agreed on fees, terms, and conditions for the ICV Certification program.)
- Fill out the questionnaire based on your company details then click on "Request Quote". (NOTE: Please keep in mind that ALR will receive your company information and then provide the agreed-upon price quotation. After that, you can accept ALR's offer.)
- A signed copy of the engagement letter will then be uploaded to the "Engagement Letter" tab by ALR.
- After the upload is complete, you will be able to populate the ICV certificate information.
- Fill out the draught version, which the Certifying Body must then review, endorse, sign, and approve.
Reyson Badger Services For You
ADNOC has established a supplier submission template (ICV Certificate Sample), which must be completed in accordance with the most recent financial audit statements. This is where Reyson Badger can assist you. The submission guidelines for templates can be explained to you. Reyson Badger helps you in understanding the factors that influence your company's ICV score in Dubai, UAE, as well as how to improve the ICV score. Drafting the ICV template based on financial year records can be improved so that when it is presented to the ICV auditor in Abu Dhabi, UAE, the required ICV score can be achieved as expected.
- Improving the ICV plans in Dubai, UAE that must be submitted with the ADNOC, Department of Economic Development, and Aldar Properties Tender.
- Avoiding seizure of ICV milestone payments by demonstrating and explaining the working criteria for ICV plan improvement.
- Making you aware of the factors that will aid in the improvement of your ICV scores in Abu Dhabi, UAE.
- Avoiding and eliminating any factors that contribute to lowering your ICV scores.
