TVS Supply Chain Solutions is awarded Authorised Economic Operator Certification by UK Government HMRC, indicating that its role in the international trade and supply chain is secure, efficient and is Union Customs Code compliant.
Following a rigorous series of audits by HMRC, AEO status was successfully granted. TVS SCS demonstrated an exemplary record of customs compliance and documented associated procedures and systems, allowing robust and reliable customs control. The introduction of AEO status had been the European Community’s response to the need to secure International supply chains, the introduction of Customs-Trade partnership against terrorism in the USA and the development of the SAFE framework of standards by the World Customs Organisation.
AEO will offer TVS SCS and its customers preferential status with HMRC interactions and in the longer-term, access to certain simplifications in customs procedures (such as guarantee waivers and centralised clearance) which may only be restricted to AEOs. The possession of AEO status is expected to make it easier for businesses to apply to use such simplifications throughout the EU.
Importantly, this will also enable customers to be fully prepared, whatever the outcome of Brexit. It will ensure that they are able to:
· Use customs procedures such as IPR/ OPR/ CFSP for cross border shipments
· Continue to use customs bonding arrangements (TVS SCS already has bonded warehouse capabilities in the UK)
· Use Import centres (bonded) and EU Export centres
· Mitigate risks associated with the potential loss of customs union and free trade deals.