What Is A Rex Number?
The REX number is a 35 digit numerical number which provides certification of origin on imports into the EU from certain countries. REX is short for registered exporter system. The system was introduced by the European Union. It was introduced for countries who benefit from preferential trade agreements. The origin of goods is declared by economic operators themselves by means of so-called statements on origin. To be entitled to make out a statement on origin, an economic operator has to be registered in a database by his competent authorities. The economic operator becomes a “registered exporter”.
What Are The Functions Of A REX number?
The primary functions of the REX system include:
- Exporter Registration: Exporters seeking registration must complete an application form and submit it to their respective competent authorities. The competent authorities are responsible for verifying the completeness and accuracy of the application forms before registering the exporters.
- Modification of Registration Data: Once an exporter is registered, it is their obligation to promptly inform their competent authorities about any changes to their registered data. The competent authorities are then responsible for updating the information in the REX system accordingly.
- Revocation of Exporters: In certain situations, registered exporters may be revoked from the REX system. This can occur if the company ceases to exist or if the registered exporter engages in fraudulent activities. Revocation can be initiated either by the registered exporter themselves or by the competent authorities, depending on the circumstances.
These three functionalities collectively ensure that the competent authorities maintain an accurate and up-to-date repository of registered exporters at all times.
How Does The REX System Work?
An economic operator provides so-called self-certification that make out their statement of origin. In order to do so, the economic operator must enrol on a database by competent authorities. Following this, the economic operator becomes a registered exporter. So, the REX system will enable economic operators from benefiting countries to become registered exporters. The REX is the first applied in the Generalized System of Preferences (GSP) that enables the EU to grant unilateral tariff preferences to developing countries. Subsequently, the same will be applied in other trade agreements of the EU. The REX system incorporates a centralized database where the authorities of the exporting nation can register their exporters. In line with this, exporters who intend to engage in preferential trade agreements are responsible for keeping their records current. The primary purpose of this database is to prevent the proliferation of multiple repositories and instead maintain a single, comprehensive record.
How We Can help?
Here at Irish Formations we strive for our services to be done as conveniently and as efficiently as possible. Our team here are experts on the services we provide. To talk to us today call 021 – 4217322 or email us at info@irishformations.ie.