Certificate of Origin in International business
What is Certificate of Origin? Why is Certificate of Origin required for exporters?
Certificate of Origin (CoO) is an instrument to establish evidence on origin of goods imported into any country. I have written a couple of articles about certificate of origin and its importance previously. You may read the same also for your easy understanding.
How many types of Certificate of Origin are there in Export Import trade?
There are two types of certificate of origin. Preferential Certificate of Origin and Non Preferential Certificate of Origin.
What is Preferential means?
The rules of origin are the rules that determine the origin of a good for the purpose of exports to a trading partner. Under an FTA, PTA or a unilateral tariff concession, the tariff concessions are granted by an importing country only when these prescribed rules of origin are adhered to. Rules of origin also facilitate in computation of trade statistics and for determination and imposition of trade remedial measures.
Some of the key criteria used in the determination of the rules of origin are:
(i) Wholly obtained
(ii) Change in tariff classification
(iii) Value addition
(iv) Non minimal operations
For exports under India’s FTAs, PTAs and GSP, specified agencies are authorised to issue the certificates of origin, They shall also provide services relating to issue of CoO, including details regarding rules of origin, list of items covered by an agreement, extent of tariff preference, verification and certification of eligibility. The list of these agencies authorised under the various FTAs/ PTAs is given in Appendix 2B
Export Inspection Council (EIC) is the agency authorised to print blank certificates. The website of the EIC (www.eicindia.gov.in) provides procedural details (including fee) for issuance of the certificate of origin.
The above information explains about Certificate of Origin for Exports. If you would like to add more information about Certificate of Origin in international business, write below.
The above information is a part of Online Export Import course
Share your experience in handling Certificate of Origin.
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