With stage 2 of the iCIRT rating system being rolled out by Equifax, last year BDAI saw a rare opportunity to differentiate themselves in a highly competitive marketplace. With no process guide being available for architecture and interior design firms, BDAI collaborated closely with Equifax to be the ‘test case’ for the architectural industry.

Directors Paul Sabatini and Dany Khoury indicated that the robust application process involved many months of ongoing discussions with Equifax. After investigating BDAI’s capabilities, capacity and track record in the industry, Equifax officially awarded BDAI the first iCIRT Gold Star rating for an architecture and interior design firm in NSW.

Being the first adopter in its industry, this star-rating is a game-changer for BDAI, allowing the firm to elevate its brand to new heights and continue servicing Australia’s renowned developers and the world’s best brands to improve the real-world experience in residential and hospitality.

With consumer awareness growing after major defective apartment projects in Sydney, this star-rating adds a further layer of confidence to buyers of BDAI-designed apartment projects. 

Founded in 2005 by Maurice Beraldo, BDAI boasts 40 staff across offices in Sydney and Melbourne. The firm’s pipeline is extensive, including entertainment facilities, restaurants, bars and pubs, low-to-mid rise apartment projects, large mixed-use projects and master planned communities.

Context

An iCIRT rating is not a credit rating but is compiled by a credit rating agency – Equifax Australasia Credit Ratings Pty Ltd. It is a wholly-owned subsidiary within the Equifax Group – a global data, analytics and technology company with a strong local presence in Australia and New Zealand.

Equifax do a full sweep of the developer, builder or consultant with a fine-tooth comb, analysing their full financial and development history before awarding the elusive accreditation.

It is important the industry promotes the existence of the rating system and advocates for consumers to deal with developers, builders and consultants from the list.

The star-rating system is from an objective and independent assessment of the following core areas:

• Character – bona fides of officers and owners, phoenixing and adverse checks,
• Capability – trading history, officeholder experience, licenses and insurance,
• Conduct – track record, judgements, tax debt, incidents, penalties and undertakings,
• Capacity – project pipeline, sustainable operations, liquidity and cash flow,
• Capital – funding, borrowing capacity, covenants and debt serviceability, and
• Counterparties – related parties, value chain dependencies and sustainable sourcing.