Authorized Economic Operator Program Boosts Trade with Tiered Benefits for AEO-T1, AEO-T2, and AEO-T3 Holders
The Authorized Economic Operator (AEO) Programme offers businesses various benefits based on their AEO status, enhancing compliance and security. AEO-T1 holders receive high facilitation in imports and exports, reduced bank guarantees, and expedited customs processes. AEO-T2 holders enjoy additional benefits like deferred duty payments and faster drawback disbursal. AEO-T3 holders receive the highest facilitation, including no bank guarantees and priority customs processing. MSMEs benefit from further reduced bank guarantees. AEO-LO entities, such as logistic service providers and customs brokers, receive waivers on bank guarantees and expedited approvals. The programme aims to promote voluntary compliance through risk-based audits.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.