Common use of Accounting segregation Clause in Contracts

Accounting segregation. 1. If originating and non-originating fungible materials are used in the working or processing of a product, the competent authorities may, at the written request of economic operators, authorise the management of materials using the accounting segregation method without keeping the materials in separate stocks. 2. The competent authorities may make the granting of authorisation referred to in paragraph 1 subject to any conditions they deem appropriate. 3. The authorisation shall be granted only if by use of the accounting segregation method it can be ensured that, at any time, the number of products obtained which could be considered as originating in the UK or in Viet Nam is the same as the number that would have been obtained by using a method of physical segregation of the stocks. 4. If authorised, the accounting segregation method and its application shall be recorded on the basis of the general accounting principles applicable in the UK or in Viet Nam, depending on where the product is manufactured. 5. A manufacturer using the accounting segregation method shall make out or apply for origin declarations for the quantity of products which may be considered as originating in the exporting Party. At the request of the customs authorities or the competent authorities of the exporting Party, the beneficiary shall provide a statement of how the quantities have been managed. 6. The competent authorities shall monitor the use made of the authorisation referred to in paragraph 3 and may withdraw it if the manufacturer makes improper use of it or fails to fulfil any of the other conditions laid down in this Protocol.

Accounting segregation. 1. If originating and non-originating fungible materials are used in the working or processing of a product, the competent authorities may, at the written request of economic operators, authorise the management of materials using the accounting segregation method without keeping the materials in separate stocks. 2. The competent authorities may make the granting of authorisation referred to in paragraph 1 subject to any conditions they deem appropriate. 3. The authorisation shall be granted only if by use of the accounting segregation method it can be ensured that, at any time, the number of products obtained which could be considered as originating in the UK Union or in Viet Nam is the same as the number that would have been obtained by using a method of physical segregation of the stocks. 4. If authorised, the accounting segregation method and its application shall be recorded on the basis of the general accounting principles applicable in the UK Union or in Viet Nam, depending on where the product is manufactured. 5. A manufacturer using the accounting segregation method shall make out or apply for origin declarations for the quantity of products which may be considered as originating in the exporting Party. At the request of the customs authorities or the competent authorities of the exporting Party, the beneficiary shall provide a statement of how the quantities have been managed. 6. The competent authorities shall monitor the use made of the authorisation referred to in paragraph 3 and may withdraw it if the manufacturer makes improper use of it or fails to fulfil any of the other conditions laid down in this Protocol.. SECTION C TERRITORIAL REQUIREMENTS