What is an AEO?
In summary, Authorised Economic Operator (AEO) status is the European Union’s (EU) adaptation of the USA’s ‘Customs-Trade Partnership Against Terrorism’; an agreement which ensures all services involved in the EU supply chain meet a certain standard. An AEO status ensures the manufacturing, exporting and importing of goods meets an international standard of safety, regulation, trust, and security.
How Do I Get AEO Status?
Here at Tudor International Freight, we’re proud of our AEO status and the high standards we have historically operated at to achieve professional recognition on an international scale. To achieve AEO status as an operational segment of the end-to-end supply chain,
you must have:
- A credible record of compliance with customs legislature and taxation rules;
- A credible structured routine of managing commercial, and transport records regarding appropriate customs controls;
- Evident financial solvency;
- A good standard of competence or professional qualification directly related to the organisation’s trade or expertise;
- Credible security and safety standards.
Why Should my Supply Chain be AEO Status Approved?
Being a supply-chain organisation exporting and importing to and from the EU without an AEO status is not against the law. However, when comparing the non-AEO organisation to an organisation with AEO status, the non-AEO organisation may be subjected to negative-presumption, speculation, and may also be deemed less desirable.
The benefits of achieving AEO status are:
- Forwarding goods in temporary storage when between EU member states;
- Notification waiver if you’re making an entry in Declarant’s Records;
- 70% less in deferment account guarantee;
- Concluding self-assessment;
- Centralised Clearance if and when available;
AEO status holders will receive a quicker service when applying for:
- All simplified transitional procedures;
- National Export Systems;
- Quicker procedures in regards to inward processing and customs warehousing;
- Reductions to customs comprehensive guarantee or waivers for debts;
AEO status holders aren’t just credible and trusted, the status also aids a smoother exit from the bloc for traders, forwards and international manufacturers alike.
If you have any questions, you’d like to ask regarding acquiring an AEO status, please contact us: sales@tudorfreight.com
