Why Seek EU Export Compliance ?
EU-ECF Framework provides innovative solutions to the most critical challenges in a global marketplace becoming a very complex arena for businesses to navigate.
In a globally integrated world, efficient export compliance is only possible with co- operation at an European and international level.
The EU Governments rely on the due compliance of exporters to help ensure that all laws are abided.
Compliance assessment is defined as a “demonstration that specified requirements relating to a product, process, system, person or body are fulfilled.” There are many of these compliance assessment activities applied in today’s world including accreditation, certification, inspection, registration, supplier’s declaration, and testing.
The one dimension we deal here is EU Export Compliance Certification.
Increasingly, suppliers’ procurement organizations are specifying and government agencies are recognizing accredited, third-party certification as an optional dimension of their systems for risk management.
In the rapidly growing complex area of EU export laws, EIFEC verification, validation and certification bodies have recognition of the EU Export Compliance programs for Organizations and individuals.
Undergoing the EU Export Compliance Certification process signals a clear indication that an organization desires to have a competitive advantage by undergoing a voluntary verification.
- Encourages marketplace confidence in EU Certified Export Compliant Organization (EU-C/ECO) by their undergoing regular impartial and independent audits by an internationally respected body.
- Positively influences National States and Financial Institutions satisfaction with EU-C/ECO via Export Compliance commitment, EU laws awareness and enhanced communication.
- Reduces liability insurance and mitigate legal responsability of Organizations by the accountability and transparent aspects of the process.
- Sustains continual improvement for the EU-C/ECO and their clients through the assessment of system effectiveness, efficiency and competence
- Promotes consistency and demonstrates equivalence of assessments via mutual recognition based on peer review
- Reduces multiple audits and removes barriers to trade in working towards the goal of “certified once – accepted everywhere.”
Export Compliance can be a formidable challenge, but it is also an opportunity to establish and promote operational excellence throughout the organization and significantly improve the overall performance of operation.
Export Compliance is an important mechanism that supports effective governance.
Compliance with regulatory requirements and their organization’s policies are a key component for effective management of risks.
Qualified third party Verification of processes and methods adopted by Organizations are one of the most important ways to maintain the “healthy” ethics, to support the long-term prosperity and to preserve and promote the organization values, avoiding any potential criminal prosecution.
The EU-C/ECO Certification, according to the principle of the EU-CEC Code, EU- EC/Guidelines and methodologies of Audit and Inspection international organizations generates:
- Internal commitment
- Third party management audits
- Strong effect of external credibility
- Assurance and validation
- Credible foundation
EU-C/ECO IRAN
EU-C/ECO IRAN Certification / Due Diligence AML Release: 2017/CDR028
European Union and Iran: Restrictive Measures POST JCPOA /AML
The event with the most significant impact and influence of Organisations business with IRAN in managing of compliance programs is the Joint Comprehensive Plan of Action (JCPOA) signed on 14 July 2015, the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom and the United States, with the High Representative of the European Union for Foreign Affairs and Security Policy) and the Islamic Republic of Iran.
Applicable range
WHOM :
- • all Iranian Organizations, Individuals;
- • directly or indirectly Iranian-owned or controlled entities or bodies outside Iran;
- • foreign agents / intermediaries of above Organizations or Individuals.
WHAT:
- • to acts carried out within the EU and to the activities of EU nationals overseas
- • to the supply of goods and services (including shipment)
- • to financial transactions
- • Travel
Legal Situation
Against this background, EU exporters or NON EU organization dealing with EU who fail to comply with enhanced due diligence requirements appear to be ill-equipped to deal with the steadily increasing number of EU Government- sponsored compliance initiatives.
Therefore in order to help all parties involved in transactions with Iran to have a full compliance with EU Regulations ( boths post JCPOA and AML )a specific EU Export Compliant Certification Program (EU-C/ECO/IRAN) has been activated
EU Export Compliant Certification Program (EU-C/ECO/IRAN) /AML Due Diligence
To help all parties involved in transactions with Iran to be in full compliance with EU Regulations a specific EU Export Compliant Certification Program (EU-C/ECO/IRAN) has been activated
The EU Governments rely on the due compliance of exporters and financial institutions to help ensure that all laws are abided. The program is in accordance to the principle of the EU-CEC Code, EU-EC/Guidelines and methodologies of Audit and Inspection international organisations and generates:
- • Internal commitment of EU Export Compliance
- • Third party management audits and inspections
- • Strong effect of external credibility
- • Assurance and validation of non financial information
- • Credible foundation
Who can apply ?
All Iranian Persons, Entities affected by the EU regulations.
Main Requirements
- Register with the EU Export Compliance Register (EU-ECR).
- Committing the full respect of EU Transparency Code of Conduct and the EU Export Compliance Commitment.
- Adopt the European Code for Export Compliance (EU-CEC) and submit your organisation to a verification process.
- Identification of Ultimate Beneficiary Owners (UBO). Regulations on the prevention of money laundering, the financing of terrorism and others, requires financial institutions to fulfil a number of client identification obligations.
- Identification of Decision Makers (DM). Persons who have a formal mandate within the Board of the company. These are named (or equivalent of) Chief Executive Officer (CEO), Chief Financial Officer (CFO) or Treasurer.
- Two Inspections/Certifications made by 2 different independent world leading Audit organizations/Officers (One in Iran one in EU).
- Other requirements as better described in the Guidelines and Auditor Scope of works.
Initial and Renewal of Certification
You must complete the Application Form in the EU-ECR Register. We will process your application as described in details at page 15/16 of main document. usually in 15 days all the process is finalised.
Other Informations
Certification Fee: depending on the category, nature, size of organization, number of people employed, annual sales, we will determine your first annual Membership and Certification fee. This fee covers the application, verification process and the Certification/s by independent international Auditors or Inspection Agents plus the annual cost of administering your EU-EC/ECO/IRAN Certification.
Certification Period: When your application is successful we award certification for a period specific of each Category. At the end of each EU-C/ECO Certification Period we require you to renew your Certification.
Online register: The personal data concerning the contact persons, collected from the web-based registration interface will not be made available for consultation to the any party except those who are entitled as EU National Authorities or Registered Financial Institutions on the EU-ECR website, except the EIFEC Registration Number (ERN) and Certification Expiry date.
Complaint and Investigation / Enforcement of Certification: Non-compliance with the EU Transparency Code of Conduct and EU Export Compliance Code (EU-CEC) by you or by your representatives may lead, following an investigation, to the application of measures such as suspension or removal from the EU Export Compliance Register and, if applicable, withdrawal of EIFEC Registration Number (ERN).
Post Nominal Letters and EIFEC Symbol: You can use the EIFEC Registration Number ERN in all your communications with any parties to allow the authentication that the Certification is still valid. You can use the EIFEC Symbol/Logo, indicating that you are a Certified EU Export Compliant Organisation or Individuals.
QUICK FACTS on Due Diligence Certification
Guidelines for ECO/IRAN Due diligence certification
For any assistance / information kindly contact EIFEC head office at This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
Any Auditor / Inspector and or Consultant which may qualify for conducting activity as in our Guidelines can apply for Accreditation. Please contact us using the web form on Contact page.