Article posted on: 17 Sep 2020
ICV Certificate
ADNOC, Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Ports and Aldar Properties have joined towards the implementation of a Unified In-Country Value Program. Now, businesses can make a one-time application for a unified In-Country Value (ICV) certificate that will now be applicable for the commercial evaluation process of goods and services procurement by the above mentioned 4 participating entities. The objective is to enhance localisation measures in the emirate, improve transparency, create jobs and accelerate the private sector s contribution to economic development in Abu Dhabi.
 
 As per clarification from the ICV committee, the validity date of the Rev. 3.0 ICV certificate is calculated as 14 months from the date of issuance of the Audited Financial Statements. If the validity date, based on such calculation falls before 31st October 2020, the Certificate shall be deemed to be valid till 31st October 2020.
 
 As part of the ADNOC ICV Program, ADNOC s suppliers are required to declare their ICV achievement ( ICV Certificate ) with respect to the previous financial year. The ICV assessment now forms an integral part of ADNOC s tender evaluation and award process.
 
 Purpose of ICV Certification:
 To ensure validity and accuracy of the information provided by suppliers in terms of ICV Contribution.
 To ensure suppliers  ICV scores are evidence-based and calculated according to the pre-defined methodologies.
 An ICV certificate needs to be obtained for each legal entity, which intends to participate in tender with ADNOC or any of its group entities.
 The ICV certificate will be valid for 18 months from the date of issue or once a new set of financial statements are issued