Licence validity for customs brokers set at fixed term with renewal and late-renewal conditions under customs regulations. Validity of licence for customs brokers is a ten-year term renewable by the Principal Commissioner or Commissioner of Customs subject to satisfactory performance, compliance with broker obligations and absence of misconduct complaints, and on payment of the prescribed renewal fee. Late renewal may be allowed on showing genuine reasons for delay, subject to payment of an additional late fee within a limited period. Brokers authorised under the Authorised Economic Operator Programme are exempt from renewal for the duration of that authorisation.