Your reliable guide to Registered Exporter (REX) System 



When it comes to exports, the REX system plays a significant role. In today’s blog section, we will give you vital information about this particular system so that you are not clueless the next time you apply for the REX system. For more information, continue reading below.


What is REX System

The Registered Exporter System or commonly called REX System is a procedure responsible for getting self-certification of origin of goods. This system has been introduced by the European Union (EU) for facilitating easier exports by determining the origin of said goods, thus, boosting countries under preferential trade agreements.


Top Benefits of Registered Exporter System

The primary aim of the Registered Exporter System (REX) is enabling exporters to self-certify their goods without seeking approval from the concerned authorities. Here we have mentioned a few benefits of the Registered Exporter's System enjoyed by exporters.


Convenience

If there’s one word to sum up this entire system led by the EU, it would be “convenience”. The entire system revolves around allowing exporters to send their goods to respective countries with an easy-to-receive self-certification without any interference from the competent authorities. 


Confidentiality

Being a completely IT-based system, the Registered Exporter system is confidential as the well-maintained database can only be opened with allotted login credentials. Additionally, the exporters can decide whether they want to disclose or conceal the export details.


Cost-effectiveness 

The Registered Exporter (REX) System not only streamlines the entire process of trading but also reduces the overall costs by granting unilateral tariff concessions to beneficiary countries. 




Application Procedure for Registered Exporter System

To become a registered exporter, you have to submit the REX Application Form to the concerned authority. Once the authority returns the cross-checked form, you will receive your REX number. The REX statement has to be shown while transporting goods to the EU-based clients. It is the responsibility of the concerned authorities to ensure that the exporter's data is up-to-date. In the case of any changes, the exporter must inform the authorities at once to avoid confusion and revocation. 


If you are a new exporter who’s not well-familiar with how the entire system works or would rather want professionals to take care of your registration, you should definitely consider doing more research and consulting the experts. In the case of any REX-related queries, you can visit a good Chartered Accountant in Bangalore for getting a professional consultation. 

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