In December UWT was awarded the AEO C ‘customs simplifications’ certificate, and is thus deemed to be an authorized economic operator with respect to the tariff.
The introduction of so-called authorized economic operator’s (AEOs) is a provision of customs law that aims to identify potential risks within a supply chain, thereby achieving a more efficient monitoring of the global movement of goods. A company with AEO status is considered particularly reliable and trustworthy and is permitted certain discounts.
The goal is securing a continuous international supply chain from the manufacturer of goods to the consumer.
The following licensing requirements was and still is doing for UWT as Authorized Economic Operator (AEO C) met:
- Compliance with customs requirements.
- Satisfactory accounting system.
- Proven financial solvency.
The certification as AEO has many advantages in customs clearance through reductions in safety-related customs controls and general simplifications under the customs rules provide.
In addition, it can by optimising processes and internal control mechanisms also lead to indirect benefits such as:
- Fewer thefts.
- Less unexplained losses of goods.
- Fewer delayed shipments.
- Fewer security incidents.
- Better cooperation with business partners.
This certification is an indicator of the high reliability of UWT as an international trading partners with a secure payment ability which complies with all relevant legislation.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/28012016/uwt-awarded-aeo-status-403/
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