what is certificate of origin

what is certificate of origin

1 year ago 98
Nature

A Certificate of Origin (CO) is a document used in international trade transactions that attests that the product listed therein has met certain criteria to be considered as originating in a particular country. It is an important international trade document that certifies that goods in a particular export shipment are wholly obtained, produced, manufactured, or processed in a particular country. The certificate of origin is generally prepared and completed by the exporter or the manufacturer, and may be subject to official certification by an authorized third party. It is often submitted to a customs authority of the importing country to justify the products eligibility for entry and/or its entitlement to preferential treatment.

Certificates of origin can be preferential or non-preferential. Preferential certificates are needed in case of preferential duties, reduced duties, or even no duties at all, while most certificates of origin are non-preferential. They are used to determine the country of origin for purposes of calculating the duties that will be charged and can also be used in case of policy measures, like trade embargoes, anti-dumping measures, or safety measures.

Certificates of origin can be issued and filled out by the exporter of a good, and may then be approved by a chamber of commerce prior to shipment. Only exporters can issue a certificate of origin, and local chambers of commerce can issue or certify a certificate of origin. The requirements for requesting a certificate of origin depend on whether you are the producer of the goods, a trader re-selling the goods, or a logistics service provider acting on behalf of either.

Read Entire Article