What is a Certificate of Origin?
What is a Certificate of Origin?
A
Certificate of Origin is an important shipping document used in international trade. It is generally used to determine how much duty you will pay to import the goods. There are two types of certificates of origin: Non-preferential certificates of origin and Preferential certificates of origin. Non-preferential certificates of origin is known as a generic certificate of origin, briefly called C/O or COO. CO can be used in all the countries of the world, but in most cases, it does not affect the duty rate. Preferential certificates of origin includes Form A, Form B, Form E, Form F, etc. The best function of preferential certificates of origin is that you can save some tariffs cost.
Do I need a certificate of origin for imported amusement rides?
It can be served as:
1> Origin place of goods.
2> Important basis for import quantity control, anti-dumping and countervailing.
3> Proof of goods’ inner quality or settlement of exchange.
4> Important tool for better tariffs treatment. In the specific conditions, import countries will provide different tariff treatment according to the C/O. While in some cases, tariff duty rates can make up a large part of the total landed cost.
Although in most situations, C/O does not affect the duty rate, proper use of C/O will make your import process smoothly.
Who will handle the application of certificate of origin?
Your amusement rides supplier, whether it is a trading company or the amusement rides manufacturer. Please note that only company with export license is eligible for filing the application.
When to apply the certificate of origin?
You need to figure out your local customs requirement and notify your supplier before shipment. You had better apply for the C/O before the ETD (estimated time of departure), which means 5 days earlier before the shipment departed from China.
