Exertis has been awarded the Authorised Economic Operator (AEO(C)) status for customs activities by HM Revenue & Customs (HMRC), joining a group of around 700 UK businesses that hold this accreditation.
AEO is an internationally recognised ‘kite mark’ which highlights organisations deemed to be a ‘safe’ operator with regards to imports and exports. Many large organisations insist on the standard as an integral part of any trading partnership. As part of the application process, HMRC assesses, amongst other things, a company’s finances, site security, shipping procedures, compliance with customs requirements and fulfilment of relevant legal and safety regulations.
Richard Hinds, Exertis UK&I, Chief Operating Officer said, “AEO status effectively demonstrates that our role within the international supply chain is secure and that our customs controls and processes are efficient, compliant and meet international standards. As a ‘trusted trader’ we will have quicker access to numerous simplified customs procedures and authorisations and, in some cases, the right to fast-track our shipments through customs.”
The UK government has already advised that AEO will remain post Brexit and it is possible that EU partners will look to UK businesses to hold AEO accreditation to continue trading. There are AEO equivalents worldwide and it is possible that this standard will become more important if the UK leaves the EU since it will be regarded as a third country.
Commercial benefits of AEO accreditation include:
• greater access to priority clearance
• reduced administration
• traceability of flows of goods
• increased transport security
• fewer delays in despatch
• improved security between supply chain partners
• quicker access to certain customs procedures including some of the HMRC safety and security procedures.