What is a Certificate of Origin?
A Certificate of Origin (CO) 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. COs also constitute a declaration by the exporter.
Millions of COs are issued every year, facilitating trade around the world. Since as early as 1898, Chambers of commerce have been issuing non-preferential COs and more recently, closely working with Customs authorities, issuing preferential COs.
The 1923 Geneva Convention and subsequent Kyoto Convention have seen governments formally recognize the important role chambers play in this domain, deeming them competent authorities and credible trusted third-parties in the issuance of COs.
Virtually every country in the world considers the origin of imported goods when determining the duty that will be applied to the goods or, in some cases, whether the goods may be legally imported at all.
In addition, COs may be needed to comply with letters of credit, foreign customs requirements or a buyer's request.
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