|UTC completed all the necessary procedures and aquired the AEO (Authorized Economic Operator) license(AEOF) for Customs Simplifications and Security & Protection, on 19/04/2021|
What is Authorized Economic Operator
The economic operator who is approved :
· is considered to be a reliable business partner in the international supply chain and
· is entitled to enjoy specific benefits, based on the type of license which has been granted
|Categories of AEO license
The AEO property consists of two types of licenses:
· AEO License/Customs Simplification AEOC
which provides to its possessor facilities related to customs simplifications
· AEO License/Security and protection AEOS
which provides to its possessor security and protection facilities
An economic operator can be possessor at the same time of both of these two licenses. In such case THE COMPETENT CUSTOMS AUTHORITY issues a combined type of AEOF license
What are the criteria for granting the AEO license
- Company’s tax and customs legislation compliance
- Satisfactory ERP SLA agreements
- Financial solvency
- Practical experience /Professional qualifications of a person in charge of customs matters
- Appropriate security and protection standards for the business /business partners
Benefits of holding an AEO Customs License
- Easier entry to customs simplifications licenses.
- Customs Control Checks Priority inspections.
- Reduced Customs bonder warehouse warranties.
- Mutual Recognition Agreement with customs Authorities.
- Notification for physical Cargo Inspection Process.