Why need Certificate of Origin
Saturday, August 22, 2015 Category. Import
Why do you need ‘Certificate of Origin’ in International Trade
Importance of Certificate of Origin in Exports and Imports
Certificate of Origin is one of the required documents for import customs clearance in most of the importing countries. Why does certificate of origin require for import clearance? Why does government insist for Certificate of Origin as one of the required documents for import customs clearance?
Certificate of origin is the document, certifying the origin of country where in the export goods are procured and manufactured originally. Most of the cases, the buyer needs only the certificate issued by local Chamber of commerce. However in certain cases, the buyer insist to get GSP (generalized system of preference) issued by export council agencies of respective country. While issuing certificate of origin, a copy of
commercial invoice is also attested by the said authorities.
In this article I have explained about the importance of Certificate of Origin in International business, the reason for insisting for Certificate of Origin as one of the documents required for import clearance, duty exemptions for importing goods from certain countries based on unilateral or bilateral trade agreement between countries etc.
Do you wish to express more information about the importance of Certificate of origin in international business, the reason for insisting Certificate of Origin as one of the required documents under import customs clearance or duty exemptions for import of goods from specific countries under bilateral or unilateral agreement between countries? Share below your experience about Certificate of Origin and its use in international business.
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