Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.
Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William
Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com
A Certificate of Origin (CO) is a document attesting that goods in a particular export shipment are wholly obtained or produced or manufactured or processed in a particular country (country of origin). Virtually every country in the world considers the origin of imported goods when determining what duty will be assessed on the goods or, in some cases, whether the goods may be legally imported at all.
There are two varieties of certificates. The main type issued by chambers are "Non-Preferential CO", i.e. an “ordinary CO” which certifies the country of origin of a particular product does not qualify for any preferential treatment.
"Preferential C.O" refers to C.O. which enables products to enjoy tariff reduction or exemption when they are exported to countries extending these privileges: e.g. GSP, Commonwealth Preference Certificate.
Certificates of Origin may be needed to comply with Letters of Credit, foreign Customs requirements or a buyer’s request.
Unlike the ATA Carnet, there is no international chain amongst chambers of commerce for the issuance of Certificates of Origin.
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 industry groups.
The role of chambers of commerce delivering certificates of origin can be traced back to the 1923 Geneva Convention relating to the Simplification of Customs Formalities (Article 11) (eventually updated by the Kyoto Convention).
Under the Convention, its signatory governments were obliged to make the process and procedures as simple as possible for companies requiring certificates of origin. In addition, it was specified that the State may allow these certificates to be issued by other organizations, "which possess the necessary authority and offer the necessary guarantees" to the State. Thus due to the widespread network of the chamber of commerce community in nearly all countries around the world, and its facility and ease, plus respected reputation of serving the business community, in most countries, chambers of commerce issue certificates of origin.
