How can I Get ICV Certificate UAE ?

The integrated ICV program is the best initiative of ADNOC. The program of ICV contributed to ICV with business incentives, stimulating local suppliers to focus more on acquiring a certificate of ICV. If you looking for an ICV certificate UAE then a simple step that will have to take is communicating with the Taskmaster professionals who will give you assistance and guide you properly throughout the procedure of obtaining an ICV certificate. Below we present some vital things that will help you to know more about the ICV certificate.

 The ICV program aims to support economic growth in the emirate and give assistance to local businesses to run business with a big organization such as ADNOC. The program of ICV also provides permission for participating entities to localize the business activities and support economic growth in the UAE. Local suppliers have a choice to gain aside whenever they present proposals to ADNOC. The bidding procedure of ADNOC carries ICV certification as a decisive factor in the opting process. This means that the bidders who possess the certificate of ICV have an advantage over the bidders who do not possess it.

What is an ICV Certificate in UAE 

An ICV certificate is needed to be get obtained for each legal organization, that wants to involve in a tender with the ADNOC, Economic Department, Abu Dhabi, Alder. The certification of ICV would e ready on the basis of the final audited budget statements, which would not be more utilized than two years from the certification year. The validity of the ICV certificate is for 18 months from the issuance date. The supplier will be liable for getting the updated certificate of ICV in two months for the issuance date of the audited financial accounts.

The certificate of ICV is the demand of all the companies who are willing to become a supplier for ADNOC. The certificate issuance by the certification authority. Suppliers who have not possess ICV certificates will be granted to participate in the tenders of ADNOC. How to be, their ICV score in the bid evaluation will be zero.

Information Regarding ICV Certificate in UAE 

 

• Suppliers should have an ICV certificate granted by an ICV empaneled certifying authority.

 

• Every company license is considered as an independent legal unit even if the owner is look similar. But in a related emirate is a company that has over 1 branch but the same activities below similar licenses, then one combined certificate of ICV is permitted for the company in those emirates.

 

• All figures engaged in the certificate of ICV template must tally with the current audited financial statement of the supplier. The audited financial statements will be according to the international financial reporting norms, and will not be older than two years from the year of certification.

 

• For the latest setup companies that don’t hold audited financial statements, the management accounts for a tenure of up to nine months can be utilized for the computation of ICV.

 

• The ICV certificate will be valid for the tenure of 12 months for the issuance date of audited financial statements.

 

• Upon hiring an empaneled certifying authority will not alter the empaneled certifying body for that ICV certificate years without proper justifications.

 

• Submission of the supplier will consider all the costs incurred and achieved revenue throughout the financial year.