Common use of Simplified Customs Procedures Clause in Contracts

Simplified Customs Procedures. 1. Each Party shall adopt or maintain measures allowing traders or operators fulfilling criteria specified in its laws and regulations to benefit from further simplification of customs procedures. 2. Each Party shall endeavour to ensure that these simplified procedures include: (a) customs declarations containing a reduced set of data or supporting documents, including for the movement of low-value consignments; (b) the acceptance of payment of customs duties and taxes at a later date after the release of those imported goods, within a period specified by the Party; (c) the ability to clear goods from importer or exporter premises; (d) the use of a guarantee with a reduced amount or a waiver from use of a guarantee. 3. The Parties agree to cooperate on and consider further measures to reduce the administrative burdens for economic operators in relation to import and export.

Simplified Customs Procedures. 1. Each Party shall adopt or maintain measures allowing traders or operators fulfilling criteria specified in its laws and regulations to benefit from further simplification of customs procedures. 2. Each Party shall endeavour to ensure that these simplified procedures include: (a) customs declarations containing a reduced set of data or supporting documents, including for the movement of low-low- value consignments; (b) the acceptance of payment of customs duties and taxes at a later date after the release of those imported goods, within a period specified by the Party; (c) the ability to clear goods from importer or exporter premises; (d) the use of a guarantee with a reduced amount or a waiver from use of a guarantee. 3. The Parties agree to cooperate on and consider further measures to reduce the administrative burdens for economic operators in relation to import and export.