Central Board of Excise & Customs has developed a comprehensive unified trade facilitation Program by incorporating the existing Accredited Client Program (ACP) scheme and ongoing Authorized Economic Operator(AEO) Program into a revised AEO programmed providing additional facilities to the legitimate trade vide Circular No. 33/2016-Customs dtd. 22.07.2016
The objective of the revised AEO Program shall continue to remain same as earlier, that is, to provide businesses with an internationally recognized quality mark which will indicate their secure role in the international supply chain and that their Customs procedures are efficient and compliant. An entity with an AEO status can, therefore, be considered a ‘secure’ trader and a reliable trading partner. There are multiple tiers of certification in the new AEO Program. For importers and exporters there are Three tiers providing varying levels of benefits.
After getting AEO certificate company can avail following key benefits:
- Direct Port Delivery (DPD) for Imports / Entry of Containers(Exports) without customs examination.
- Fast track clearance from Customs – to save time
- Under DPD, Containers need not to get off loaded at CFS. Hence, huge cost saving of CFS charges and loading unloading charges etc.
- Payment of Duty to Customs after 15 days of getting goods at your doorstep- Under Deferred Duty payment system.
- Fast Refunds / Drawback, No Audit, No Bank Guarantee.
- Can apply for an Advance Authorization under self-declaration and self-ratification basis where there is no SION/valid Ad-hoc Norms for an export product. NO need of ratification report from Norms Committee, Delhi.