BREXIT AND COVENCO
Buying Hardware and Services from Covenco
We will not be the Importer of Record (IOR), even if we are ‘delivering’ the item sold to the customer’s location in the EU because we will not be able to reclaim the import VAT payable when the goods enter the EU.
Goods sold by Covenco will be sold under Incoterm DAP (Delivered At Place) – shipping on the Covenco account or FCA (Free Carrier) – shipping on the customer account. Under these terms, we (the seller) arrange the export customs declaration and transportation, but the buyer arranges the import customs declaration and is responsible for any import duty and VAT.
Please note – this is NOT an increase in price to our clients, just administratively different from what you may have experienced buying in the UK before Brexit. It will not increase the price for you.
BUSINESS AS USUAL
Selling to us, licensing and transport considerations
Selling to Covenco :
All of the above applies in reverse. As an EU supplier to Covenco, you do not want to become liable for the UK VAT on the import of goods, we advise you to sell to us stating DAP or FCA terms.
Transport and Documentation :
We have been working with all the major couriers to understand any changes in their processes, and they are doing an excellent job of keeping UK businesses informed.
Covenco already held the appropriate License to ship Export Controlled (typically encrypted) products into Europe and the 7 ‘Friendlies’ – the European license was updated on 31st December to comply with the Brexit Legislation changes.
Please do not hesitate to contact your usual representative or ask OUR Logistics team if you need more information using the form below.
We are continuing our excellent relationship with hundreds of European customers, and making many new acquaintances.
Request more information
Please complete this form to request more information about our Brexit processes, including logistics, tax and customs details.