Q1. Must traders transmit specified information through a VASP?
No. Eligible traders registered as TSW users may transmit specified information directly to the Government through the TSW system or authorise an approved VASP to transmit it on their behalf.
When using ETAS, traders may submit non-electronic information and written authorisation as required for conversion and transmission by a VASP. Before obtaining authorisation, the VASP must inform eligible traders that they may choose to transmit the information directly through the TSW system.
Q2. May a trader authorise more than one VASP to transmit specified information on its behalf?
Yes. A trader may authorise one or more VASPs to handle the same or different classes of specified information. A VASP must not change the classes selected by the trader in an e-authorisation request.
During the subsistence of the authorisation, any government queries arising from a transmission previously made by a particular VASP should be followed up by the trader and that VASP. After the authorisation is terminated, the queries will be sent only to the trader’s TSW account for the trader to follow up and cannot be handled by another VASP.
Q3. Must traders pay any fees when transmitting specified information through a VASP?
A VASP may decide whether to charge commercial service fees and the amount of those fees. Traders should enquire directly with the VASP concerned. The transmission of certain specified information may also involve government charges, levies, fees or penalties.
A VASP must provide a clear breakdown of charges, clearly distinguishing government charges from its own commercial charges. It must not describe or present its commercial charges as government charges. Clients must also be able to select services separately; a VASP must not bundle several services into a single fee unless each service is also offered separately at an individual fee.
Q4. After authorising a VASP, must a trader still follow up on the transmission?
Yes. Traders remain ultimately responsible for the accuracy and completeness of the information provided.
During the subsistence of an authorisation, the VASP must use reasonable effort to assist the trader in following up on government queries arising from its transmissions. After the authorisation is terminated, the queries will be sent only to the trader’s TSW account for the trader to follow up and cannot be handled by another VASP.
Q5. How may a trader terminate an authorisation given to a VASP?
For an e-authorisation, the trader may terminate it through the TSW system. The VASP may also terminate the e-authorisation through the system.
For a paper or other written authorisation, the trader may terminate it by giving written notice to the VASP in accordance with the validity period or termination arrangements specified in the authorisation. Once the authorisation is terminated, the VASP must not make any further transmission in reliance on it.