Aldar's ICV Program
Suppliers are strongly encouraged to undertake the ICV certification process to attain the ICV certificate.
In ALDAR’s ICV program, suppliers are expected to provide the entity’s latest ICV certificate (Version 3.0) in the bid submissions. While it is not compulsory to hold an ICV certificate to participate in the tendering process, suppliers that have an ICV certificate will have advantage during the evaluation process.
All suppliers are strongly encouraged to undertake an ICV evaluation and certification process to attain an ICV certification. The evaluation will examine your value-added contribution to the UAE in areas including:
- Local manufacturing
- Procurement of third-party goods and services
- Local investment and it is growth
- Emiratization of workforce
- Expatriate contribution
- Generation of income from outside UAE (exports)
The certification will verify the contribution in these areas. Suppliers are expected to complete the Certification Submission Template and approach one of the empaneled certifying bodies who are authorized to issue ICV certificates. The list of the authorized Certifying bodies is available.
Suppliers can refer to Supplier submission guidelines for assistance in completing the submission documents.
- Supplier Guidelines
- Certificate Template
What is the Unified In-Country Value (ICV) program?
ALDAR has implemented the Unified In-Country Value (ICV) program with the objective of growing and diversifying the UAE’s economy while creating opportunities for the private sector. The program will enhance localization measures in the UAE, improve transparency, create jobs, and accelerate the private sector’s contribution to economic development of the UAE.
What does the program mean for existing and potential new suppliers?
The launch of the program for the existing supplier means that there would be no change and all the terms and conditions remain same till the validity of the existing contract. However, a new potential supplier needs to obtain the latest ICV certificate to participate in the tender with ALDAR.
How do I obtain an ICV certification?
Suppliers should approach the ALDAR appointed certification agency for ICV certification. Please contact the ICV team for the latest certifying body list. All required documentation and details that are required by the certifier must be provided by the supplier for the purpose of review and verification.
What do I need to apply for an ICV certificate?
As a starting point, you will need audited financial statements based on International Financial Reporting Standards (IFRS). The audit must be carried out by a licensed auditor from Ministry of Economy.
How will the ICV program affect the procurement process and the way that ALDAR does business?
Starting from 03rd May 2020, all tenders/contracts/agreements will need to have a unified ICV certificate (version 3.0). The suppliers would be evaluated based on their unified ICV score and will form part of the procurement process. The unified ICV certificate can be submitted with the Expression of Interest (EOI) or as requested.
How often will suppliers be required to review their ICV certificate?
Suppliers will be expected to renew their ICV certificates on an annual basis or as required.
What happens if a supplier cannot meet these requirements?
Suppliers that do not have an ICV certification can still participate in all the ALDAR tenders.
What if I am a start-up entity and do not have audited financial statements?
For newly established entities (less than 10 months old), who do not have audited financial statements, the Management Accounts for a period of up to 9 months can be used for ICV calculations. Any management accounts greater than 9 months will be required to be audited.
Is my ICV based on my consolidated financial statements?
No, separate ICV Certificate is required for each legal entity. Furthermore, operations of the branches in any of the other emirates will need to be excluded for the purpose of ICV. For example, a company having head office in Abu Dhabi and a branch in Dubai will need to separate figures for the head office and the branch and separate ICVs will be issued for Abu Dhabi and Dubai. Branches in the same Emirate with identical activities and ownership listed on the licenses are eligible for one combined ICV certificate.
Where can I learn more?
For more information, please contact the ICV team on +971 2 810 5958 or by email firstname.lastname@example.org
Certifying bodies verify all suppliers’ achievements under the ICV programme.View All Certifying Bodies