AUTHORISED ECONOMIC OPERATOR (AEO)
Authorised Economic Operator is an accreditation granted to businesses that satisfy strict customs criteria to demonstrate consistent quality, compliance and trustworthiness in the international supply chain. Awarded by HMRC in co-operation with the EC, AEO is recognized throughout the EU and internationally.
Currently most of the benefits are commercial and many businesses that are applying are doing so because they wish to lead the field in compliance and deal with goods moving to the USA, China or Brazil for which AEO will become the required standard. Or they do not want to be at a commercial disadvantage if their competitors become accredited.
However it is anticipated that future benefits of AEO status will include:
- Fewer physical and documentary examinations.
- Fast tracking of consignments through customs controls.
- If selected, priority examination and clearance of goods.
- Access to simplifications such as guarantee waivers, centralised clearance and single community authorisations, when the modernised Customs Code is agreed.
- Easier access to simplifications in other Member States due to the recognition of AEO status across the EU.
- Reduction in losses due to theft or damage.
- Enhanced customer relationships due to improvements in on time deliveries.
- Improvements in inventory management and reduction in stock levels.
- Improved process compliance.
- Reduced insurance premiums.
As one of the first recipients of the AEO Customs Simplifications status, you can rest assured that all of your customs transactions across the EU and beyond will be conducted accurately, reliably and professionally to the highest standard, as certified by HMRC and the EC.