A Certificate of Origin (COO) is an important international trade document attesting that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country.
COOs are used to establish the origin of imported goods when determining what duty will be assessed on the goods or, in some cases, whether the goods may be allowed legally imported at all.
Certificates of Origin may be needed to comply with Letters of Credit, foreign Customs requirements or a buyer’s request
Generally there are two major types of Cos namely "Non-Preferential” and "Preferential”.
The "Non-Preferential COO" is also known as ordinary COO, which certify that the country of origin of a particular product does not qualify for any preferential treatment.
"Preferential COO" refer to COO which enable products to enjoy tariff reduction or exemption when they are exported to countries extending these privileges: e.g. GSP, Commonwealth Preference Certificate.
In most countries, chambers of commerce are the key agent in the delivery of certificates of origin. However, in some countries, this privilege may also be extended to other bodies such as ministries or customs authorities.
For any trade related Questions / Requirement Click here to submit your query.
Copyright © 2021. All Rights Reserved by Indian Oilseeds and Produce Export Promotion Council