“Legality rating”: an important recognition for companies
With Interministerial Decree n. 57 of 2014, the Ministry of Economic Development and the Ministry of Economy and Finance have drawn up a Regulation (click here to read it) that governs the methods by which the legality rating is taken into account, a tool aimed at introducing and promoting principles of ethical behavior in companies.
What is it about?
The “legality rating” consists in assigning a score, measured in “stars“, which rewards:
- compliance with legality by companies that have requested it;
- the degree of attention paid by companies to the correct management of the business.
The base score can be increased by a “+” for each additional requirement that the company complies with among those provided for in art. 3 of the Regulation. The achievement of three “+” entails the attribution of an additional star, up to a maximum score of three.
What is the duration and what advantages does it give?
The rating is assigned by the Competition and Market Authority (AGCM), has a duration of two years from the date of issue – renewable upon request – and gives the company:
- an advantage when granting public funding;
- facilities for access to bank credit.
In the first case, the public administrations envisage at least one of the following reward systems in the provision for granting loans:
- preference in the ranking;
- attribution of additional points;
- share reserve of the financial resources allocated.
In the second case, the banks, in the investigation process, reduce the time and costs of granting loans or accessing credit to businesses.
What are the requirements and procedures for obtaining the rating?
The “legality rating” can be requested by companies that:
- are registered in the business register (or in the R.E.A.) for at least two years before the date of the application and are operational in Italy;
- have achieved a minimum turnover of € 2,000,000.00 in the year ended the year prior to the request.
Interested companies must first register on the Webrating platform, available on the AGCM website (click here to open the page) and submit the application using the appropriate form.
******
The Coscia law firm, thanks to its expertise and experience in the field of business consultancy and assistance in obtaining grants and funding both nationally and in Europe:
- provides the companies concerned with all the information regarding the requirements and methods for assigning the “legality rating”, assessing in advance the existence of the conditions necessary to obtain recognition;
- assists its clients in preparing the necessary documentation and forwarding it according to the procedures set out in the Regulations;
- manages the practice until its conclusion;
Contact us immediately by e-mail at info@studiolegalecoscia.it, to obtain the legality rating from the AGCM.
