Swift Cargo awarded with Authorized Economic Operator (AEO) – LO Certification
Swift Cargo is now an Authorized Economic Operator (AEO) certified company as a Freight Forwarder/Logistics Operator. Swift Cargo is recognized as a ‘safe’, ‘secure’, ‘compliant’ business partner by Indian Customs Law/World Customs Organization (WCO)/equivalent supply chain security standards.
What is AEO?
The concept of AEO was introduced by World Customs Organisation (WCO) to be adopted by different countries in connection to their national custom security measures. The aim of AEO programme is to secure the international supply chain by granting recognition to reliable operators & streamlining the international supply chain.
The AEO programme concerns exporters, importers & logistics operators like Swift Cargo. It enables Indian Customs administration to identify safe & compliant business entities and provide them assured facilitation & additional benefits.
Benefits of AEO Status for Swift Cargo:
a) Faster trade facilitation by a foreign Customs administration under MRA (Mutual Recognition Agreement).
b) Facility of Direct Port Delivery (DPD) of Import Containers and/or Direct Port Entry (DPE) of Export Containers.
c) Prioritized processing & clearance of goods.
d) Fast tracking of refunds & settlements including IGST refunds & disbursal of drawback.
e) Reduction in dwell time & related costs.
f) Waiver of Bank Guarantee Requirements & no Merchant Overtime Fee (MOT) to be paid.
g) Improved inventory management, security & service levels.
This certification enables Swift Cargo to offer smoother & faster services to customers for their logistic requirements.
For more information on AEO, visit: https://www.aeoindia.gov.in/SourceCode/Website/about.html