standard exchange system

Standard exchange system (SES)

SES: Standard Exchange System.

Prior importation: The importation of replacements before defective goods are exported under the Standard Exchange System.

Standard Exchange System (SES) without prior importation or SES with prior importation.

The procedure also enables faulty goods to be returned to a third country for repair, or for replacement with equivalent goods under the Standard Exchange System (SES), see paragraph 3.5.2.

STANDARD EXCHANGE SYSTEM (SES)

Unless the Standard Exchange System is being used, to be eligible for duty relief under OPR, it must normally be possible to identify the exported goods in the compensating products when these are imported.

The standard exchange system (SES) is a variant of outward processing relief, which allows duty relief to be granted on goods imported as replacements for faulty goods which have been exported from the community for repair.

Community goods owned and exported by authorised Government Departments or Agencies, that are VAT paid and have not been subject to any refund of VAT being temporarily exported outside the Community for processing, repair or replacement under the standard exchange system.