Credit Management magazine October 2017

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Wherever you fit... • Customer risk assessment & take-on • Credit terms & funding • Relationship-building & sales growth • Sales transaction processing • Invoicing & dispute resolution • Collecting payment & cash allocation • Debt recovery • Litigation • Insolvency we’re here to help and support you. Membership benefits: Qualifications & training Resources & Industry updates Networking events Credit Management magazine 92% of members are likely to recommend CICM to non-members The Recognised Standard Join online today at www.cicm.com or call 01780 722900 The Recognised Standard / www.cicm.com / November 2017 / PAGE 28 FLC
TRADE TALK AEO – putting cargo in the fast lane post-Brexit Lesley Batchelor advises how AEO certification is becoming increasingly desirable as an internationally recognised tool to keep cargo moving. AUTHOR – Lesley Batchelor OBE FCICM is Director General of The Institute of Export and International Trade. Lesley Batchelor INTERNATIONALLY recognised as a mark of quality, an Authorised Economic Operator (AEO) certificate effectively demonstrates that your role within the international supply chain is secure, and that your customs controls and procedures are efficient and compliant. While not mandatory, and with no current plan to make it so, the EU is nonetheless actively encouraging the majority of organisations that export outside of the EU to sign up to this worldwide initiative, which has been designed to ensure that international supply chains are secure and controlled from the point of origin through to the final delivery destination. Registration is open to all businesses in the EU that are involved in trade with non-EU countries, including logistics operators, carriers, freight forwarders, customs agents, importers, exporters and manufacturers. Although the initiative has been in place for several years, the UK lags firmly behind other EU countries, with just 599 approved AEO registrations compared to Germany, which has 6,092, the Netherlands with 1,539 and France which has 1,533 approved registrations. The reasons behind this vast disparity in AEO numbers may be attributable to the respective sizes of the logistics sector in Germany and Netherlands in relation to the UK. However, there is a growing concern that UK businesses that trade internationally may lose traction if the scheme gains widespread popularity and they are not part of that development. Bearing that in mind, and within the Single Market and the Customs Union as we are at present, companies holding AEO certification have already had a clear advantage when exporting, especially to the United States. Post-Brexit, AEO certification will become even more desirable as UK manufacturers and exporters looking to compete with their EU equivalents really will need AEO to assure overseas clients that their shipments will not be subject to unnecessary delays. Developed as part of the World Customs Organisations (WCO) SAFE framework of standards, AEO certification was designed to secure and facilitate global trade. The framework is based on countries having mutual recognition agreements to give priority clearance to trusted AEO exporters and importers across borders. To qualify a business must be established in the European Union (EU), be actively involved in customs operations and international trade and have an Economic Operator Registration and Identification (EORI) number, which already applies to most exporters. AEO acts increasingly as a quality standard with many larger organisations insisting on any trading partners having this status. As part of the application process, HM Revenue & Customs (HMRC) officials will stringently assess, amongst other things, a company’s finances, site security, shipping procedures, compliance with customs requirements, and fulfilment of the relevant legal and safety regulations. Companies that already have IPP and ISO are half way to attaining this highly secure accreditation. Even though there can be no denying that achieving AEO status is a time consuming and often daunting exercise, the commercial benefits can be immense and include: greater access to priority clearance; reduced administration; traceability of flows of goods; increased transport security; fewer delays in despatch; improved security between supply chain partners; quicker access to certain customs procedures including some of the HMRC safety and security procedures. As the number of businesses with AEO status increases so will the pressure on other companies to comply. Priority clearance for AEO-certificated businesses will, by default, mean that noncertificated organisations will be dealt with as a secondary concern. When time is of the essence, such delays in delivery will inevitably prove ever more costly. Although it’s had a slow uptake, AEO is gaining traction. That said, it isn’t all plain sailing for those seeking certification. Customs authorities in the UK need to focus urgently on their partnership approach and work to achieve continued improvements in the AEO standard and application process, to ensure it delivers the right benefits to companies post- Brexit. Further information and applications for AEO status can be made via the HMRC website or the GOV.UK website. Priority clearance for AEO-certificated businesses will, by default, mean that noncertificated organisations will be dealt with as a secondary concern. The The Recognised Standard / / www.cicm.com / / November 2017 2017 / PAGE / PAGE 29 29
Page 1 and 2: CREDIT MANAGEMENT CM NOVEMBER 2017
Page 3 and 4: NOVEMBER 2017 www.cicm.com CONTENTS
Page 5 and 6: OURAML SOLUTION WILL HELPYOU SEAL T
Page 7 and 8: Online retail sales on the rise UK
Page 9 and 10: Support for customers with addictio
Page 11 and 12: INSOLVENCY The ‘d’ problem - re
Page 13 and 14: OPINION Money for Nothing? Speaking
Page 15 and 16: OPINION AUTHOR - PHIL ARISS mass ad
Page 17 and 18: THE RECOGNISED STANDARD CICM Britis
Page 19 and 20: FRANK Anderson is a contented man.
Page 21 and 22: TOWN AND COUNTRY AUTHOR - SEAN FEAS
Page 23 and 24: HQ PROFILE - MARKETING AND INFORMAT
Page 25 and 26: COUNTRY FOCUS AUTHOR - ADAM BERNSTE
Page 27: INTERVIEW FECMA Country Profile In
Page 31 and 32: US BUDGET SQUABBLE CONTINUES THE US
Page 33 and 34: COLLECTIONS businesses are subject
Page 35 and 36: For more information call 01206 322
Page 37 and 38: OPINION AUTHOR - CHRIS SANDERS will
Page 39 and 40: PAYMENT TRENDS Sector Getting Bette
Page 41 and 42: THE CREDIT CONTROL RECRUITMENT SPEC
Page 43 and 44: OPINION AUTHOR - DEREK SCOTT ‘‘
Page 45 and 46: Don't miss this essential legal upd
Page 47 and 48: EDUCATION Train to Gain UNITED UTIL
Page 49 and 50: THE 2017 CICM TURNER LECTURE Friday
Page 51 and 52: OPINION Five best ways to prepare f
Page 53 and 54: Proud supporters of CICMQ With over
Page 55 and 56: BE ONE CLICK AWAY FROM OUR WEBSITE
Page 57 and 58: New CICM members The Institute welc
Page 59 and 60: BRANCH NEWS Wine and Wisdom Kent Br
Page 61 and 62: CREDIT CONTROLLER ACHIEVE YOUR FULL
Page 63 and 64: Cr£ditWho? CICM Directory of Servi
Page 65 and 66: Cr£ditWho? CICM Directory of Servi
Page 67 and 68: Puzzle by © 2012 Mirroreyes Intern

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