Below is the process to apply for ICRA® Certification for any project:
Project certification application is made purchasing the ICRA® Certification digital package at the ICRA® eShop. It is important to fill the Country and City form when acquiring a Certification plan. In this way, once the fees have been paid, an ICRA® Official Certification Center (OCC) will be assigned to the project according to the applicant's country, to start the certification process.
The Official ICRA® Certification Center will contact you and assign you a Process Analyst (PA), the person who will be in charge of communicating with you throughout the Certification. The PA will send you a form where you will have to fill in all the information related to the project to be certified*.
*In case of any error or incompatibility that supposes the denial of the certification, all fees will be refunded, except the Application Fee.
Submission of documentation
After receiving the project information form, the PA of the OCC will send the applicant the Certification Process ID and will request to the applicant all the necessary documentation to carry out the Certification analysis. The applicant has a maximum period of 72 business hours to send all the documentation via email.
Once all the documentation has been received and validated, the OCC will begin to carry out the ICRA® Certification analysis. The results will be communicated to the applicant within a maximum period of 20 business days. For ICRA® Society members, the maximum response time is 8 business days. For applicants who have purchased the Fast Track package*, the maximum response time is 8 business days.
*If you are interested in purchasing a Fast Track package, you must do so after obtaining the Certification Process ID and writing it down when purchasing the Fast Track package.
ICRA® Official Certificate
After the deadline, the OCC sends its resolution to the applicant via email* and attaches ICRA® Certificate with biometric signature. The applicant is ready to use the certificate to present their project to investors and/or buyers with greater confidence and financial credibility. This certificate will be valid for 18 months.
*Physical copies of the Certificates may be requested. Each applicant may request up to 5 physical copies of the same Certificate. Said copy includes an elegant leather certificate holder with the Certificate on paper with hologram and dry seal, as well as an ICRA® gift. It can be purchased through the ICRA® eShop as long as the Digital Certificate has already been obtained before.
Renewals. If the applicant, after the 18-month validity period has elapsed, would like to renew the certificate, they must request it at least 15 business days prior to expiration. The OCC will carry out points 03 and 04 in order to update the documentation related to the project. Each project will have only 1 renewal allowed. Renewal can be purchased through the ICRA® eShop.
Updates. If the applicant considers that during the validity period of the Certificate the project has undergone changes that affect its Rating and would like to carry out a new certification, they must carry out the entire procedure from the beginning, but the cost is the same as a Renewal (not the full price).
Second Chance. If the applicant, after receiving the result of the Certification, considers that he/she can improve the rating by correcting errors or novelties in the project, he may apply for a Second Chance, within 10 business days after the issuance of the Original certificate. The Second Chance ticket can be purchased through the ICRA® eShop indicating the Certificate number.
Detailed Qualification Report. Each applicant can request a Detailed Qualification Report in Legal Note format where all relevant aspects of the Project Certification are explained to interested third parties. This Report can be purchased at the ICRA® eShop and is issued within a maximum period of 8 business days. ICRA® Society Members will have a 50% discount on the cost of this report.
Guarantee of Security and Veracity
In order to verify the correct performance of ICRA®, each OCC may carry out up to two regulatory inspections during the validity period of each Certificate.
In the case of an Inspection, the OCC will contact the applicant and require all the updated documentation, in order to review and verify that the rating given to said project is maintained and that the conditions have not changed. The applicant must provide the OCC with the requested documentation within a maximum period of 72 business hours. In case of non-response or non-compliance with the deadline for delivery of materials, the OCC will proceed to withdraw the Certification and apply the corresponding sanctions.
In the event of a positive variation (rating result higher than the Original Certificate), the applicant will be notified and the applicant may obtain, if desired, a new Certificate with the corresponding rating*.
In the event of a negative variation (rating result lower than the Certificate), the data will be updated and the original Certificate will lack legal validity, being replaced by the new one with the corresponding rating.
In the event that the OCC perceives irregularities in the project that provide evidence that the certification was carried out fraudulently, the applicant will be withdrawn from the Certificate and will not be able to request any more certificates for the same project.
In the event that the OCC receives as a result of the inspection a Certification analysis that reduces the project's rating by 2 or more levels, the applicant's certification will be annulled.
* at an additional cost. Check rates at eShop