Authorised Economic Operator (AEO)
Applications to be an AEO
AEO accreditation is now being issued by HMRC and customs bodies across the EU. It provides access to new regulatory fast tracks shortly to be offered by HMRC and identifies your enhanced status within any supply chain and to your prospective trading partners including meeting US import C-TPAT requirements:
Simplified Customs Procedures with AEO
Once approved your company will benefit from simplified customs procedures and be facilitated on security requirements. Anyone, whatever the size of their business involved in the supply chain can apply, including; logistics operators, carriers, freight forwarders and customs agents. HMRC will expect that prospective AEOs must be: financially solvent, compliant and able to demonstrate satisfactory management systems. If applying for security status the applicant must also demonstrate that it is compliant in security and safety standards.
European Union's Community Customs Code
The measures were introduced by an amendment to the European Union's Community Customs Code in April 2005, Regulation 648/2005. The arrangements came into force in January 2008, and by mid 2009 over 1000 AEO certificates had been issued across the EU.
The Objectives of AEO Are:
- To provide proper security controls to ensure the protection of the internal markets and in close co-operation with major trading partners around the world.
- To provide facilitation to these traders (AEOs) which demonstrate compliant efforts to secure their part of the international supply chain.
The Benefits of AEO Are:
- AEOs would enjoy a lower risk score incorporated into a Customs Risk Management System, reducing the need for physical and documentary checks on consignments.
- Fast tracked consignments and priority clearance, compulsory from July 2009
- Simplified pre-arrival/departure summary declarations
- Recognised status across the EU
- Trading with the status of an AEO will enhance business opportunities as it will provide confidence to other prospective trading partners and authorities, similar to having a British Standards Kite Mark.
- Further potential for this status to be applied to world wide markets
- Participation in the mutual recognition agreements coming on stream in 2009, with countries like the USA
- Significant reductions in shipping insurance costs could be achievable for an AEO holder
- Local clearance facilities will be enhanced if AEO status is held
- A number of benefits will accrue to AEO holders, with the implementation of the Modernised Customs Code in 2010
Veracis can assist your AEO Application
HMRC will need to conduct an audit of your company before granting AEO status. Veracis is closely monitoring the progress of this initiative in order to assist its clients in making a successful application to become an Authorised Economic Operator. We will review your company profile and trading practices; we will then take you through the application procedure to ensure you put forward a meaningful presentation of your company's credentials.
Need more information about AEO?
Please contact anyone at the Veracis Team for more information on our services.
»» Download our AEO brochure* for more information
* an Adobe™ PDF requires the Adobe Reader™
Contact:
Tel: +44 (0) 845 601 1137
Email: mail@veracis.co.uk
