Standard exchange system
Also called: standard exchange
An outward processing arrangement in which a defective product sent abroad for repair is replaced by an imported replacement product instead of the repaired original. The replacement must have the same code, commercial quality and technical characteristics as the defective goods.
In practice
Standard exchange lets companies receive spare units immediately, but duty relief applies only within the conditions set in the authorisation.
EU
Türkiye
UKRelated terms
- Outward processing
- A special procedure allowing goods in free circulation to be exported temporarily for processing or repair abroad and then re-imported with total or…
- Outward processing authorisation certificate (HİİB)
- A document issued in Türkiye under the outward processing regime that allows goods in free circulation to be exported temporarily for processing or…
- Returned goods relief
- Relief from import duty for goods that were exported from a customs territory and are re-imported in the same state, usually within three years.…