What is Trusted Trader Status?
10 November 2017
In February 2017, The Irish Exporters Association (IEA) announced BDO Customs and International Trade Services (BDO) as a key sponsor of the organisation’s customs services offering. Working together, the IEA and BDO will offer IEA members guidance and advice on customs issues and challenges for export / import through a series of newsletters in 2017. Below is an article from this series.
By obtaining an AEO certificate an operator has effectively demonstrated that their customs controls and procedures are efficient and compliant and their role within the international supply chain is secure.
Whilst not mandatory, the EU is actively encouraging organisations to sign up to this worldwide initiative, which has been designed to ensure that international supply chains are secure and controlled from the point of origin through to the final delivery destination.
Registration is open to all businesses in the EU that are involved in trade with non-EU countries, including logistics operators, carriers, freight forwarders, customs agents, importers, exporters and manufacturers.
What are the benefits?
Trusted traders could benefit from:
- Waiver of comprehensive guarantees for suspension procedures (e.g. Customs warehousing or Inward Processing).
- Reduction in guarantee requirement for deferral account holders.
- Completing self-assessment for customs declarations, when implemented.
- Lower risk scores in risk analysis systems with Revenue profiling for customs interventions.
- Priority treatment if physical controls are conducted.
- Mutual recognition under Joint Customs Cooperation Agreements which could result in faster movement of goods through third country borders.
- Recognition worldwide as safe, secure and compliant business partners in international trade.
- Reduced data sets for entry and exit summary declarations (AEOS)
- Easier access to simplified procedures.
Timeline to authorisation
Please see below an indicative timeline including all stages to authorisation.
For further information on AEO and all customs queries please contact us.
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