Benefits of Certificate of origin in Import, What is Certificate of Origin?

What is Certificate of Origin?
A certificate of origin is a document used in international trade. It acts as a verification of sorts, stating where a product was actually made. Here's the breakdown:
1. Why it's needed: Countries charge different taxes (customs duties) on imported goods. The certificate helps determine the correct tax for the product.
2. What it shows: The certificate clarifies the "nationality" of the product, specifying the country where it was made.
3. Who uses it: The exporter (seller) typically fills it out and may need it endorsed by an official body. The importer (buyer)'s customs officials rely on it to process the import.
4. Benefits: It can also help qualify for special deals between countries, like lower taxes under a trade agreement.

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