CUSTOM TRADE & COMPLIANCE NEWSLETTER – January 2020
New Decade, New Incoterms!
The start of 2020 saw the introduction of a new set of Incoterms rules. Incoterms 2020 brings very few changes, and the International Chamber of Commerce (ICC) advise all traders that “… the very limited changes from Incoterms 2010 may not provide much incentive for its adoption, especially where the 2010 revision has been incorporated into complex trading agreements.
As always, trading partners remain free to adopt the Incoterms revision of their choice by specifying it in their commercial contracts. On the positive side, organisations who have already established a good Incoterms 2010 practice will not need to undertake a major retraining exercise for Incoterms 2020.
Brexit date 31.1.2020
Do you have any Customs compliance questions as we approach Brexit at the end of the month?
Please do not hesitate to contact us for any enquiries at firstname.lastname@example.org
Are you considering applying for AEO?
Authorised Economic Operator (AEO) Benefits, as advised by Irish Customs at www.revenue.ie
This is primarily a trade facilitation measure that recognises reliable operators and encourages best practice in the international supply chain. As an AEO, you could benefit from:
- recognition worldwide as safe, secure and compliant business partners in international trade
- lower risk scores in risk analysis systems when profiling priority treatment if physical controls are conducted mutual recognition of AEO programmes under Joint Customs Cooperation
- Agreements which could result in faster movement of goods through third country borders
- reduced data sets for entry and exit summary declarations (this only applies to AEO safety and security)
- easier access to simplified procedures
- reduction or waiver of comprehensive guarantees.
CUSTOMS TRADE COMPLIANCE CONTROL PROGRAMME
- We design and implement systems working with your team to assist your Business in managing both Customs and Trade compliance.
- The control programme manages all of the Compliance activities a Company is required to perform.
- This allows for standardisation of procedures, roles and responsibilities.