In-Country Value (ICV) Certification: Who Qualifies and What You Get

This certification is a program designed to recognize businesses that contribute to the local economy through their spending and operations. It serves as a way to measure how much value a company adds to the national economy.

👤Who it's for

This scheme is specifically designed for suppliers. If your business provides goods or services to government entities or semi-government entities, you may qualify for this program. It is intended for those who are part of the supply chain for these official organizations.

🎁What you get

The primary benefit of obtaining this certification is gaining priority in government procurement and tenders. By holding this certification, your business is positioned more favorably when the government or semi-government bodies are looking to award contracts or conduct bidding processes.

💰What it costs you

There are two main requirements to consider when seeking this status. First, you will need to cover the costs of the certification audit fees required to verify your business. Second, you must provide detailed proof of your local spend, meaning you need to document how much of your business expenditure is directed toward the local economy.

⚠️The catch to know

The most important thing to remember is that this certification is not a permanent status. It is valid for only one year. Because of this short timeframe, you must plan for a regular cycle of verification to ensure your business does not lose its priority status in government tenders.

📝How to apply

1. Gather your financial documentation to demonstrate your local spending patterns.
2. Engage with the required auditors to verify your business's economic contribution.
3. Pay the necessary audit fees as required by the certification process.
4. Submit all verified documents to the issuing authority to receive your certification.
5. Set a reminder to begin the renewal process before your current one-year certification expires.