This paper presents the calibration and validation studies for the Radio Occultation and Heavy Precipitation experiment aboard the PAZ satellite. These studies, necessary to assess and characterize the noise level and robustness of the differential phase shift ( ) observable of polarimetric radio occultations (PROs), confirm the good performance of the experiment and the capability of this technique in sensing precipitation. It is shown how all the predicted effects that could have an impact into the PRO observables (e.g., effect of metallic structures nearby the antenna, the Faraday rotation at the ionosphere, signal impurities in the transmission, and altered cross-polarization isolation) are effectively calibrated and corrected, and they have a negligible effect on the final observable. The on-orbit calibration, performed using an extensive dataset of free-of-rain and low-ionospheric activity observations, is successfully used to correct all the collected observations, which are further validated against independent precipitation observations confirming the sensitivity of the observables to the presence of hydrometeors. The validation results also show how vertically averaged can be used as a proxy for precipitation.