What is C/O? The importance of C/O in export
BlogDate: 13-08-2024 by: Nhu Quynh
What is C/O (certificate of origin)? What role does this paper play in import and export activities? These are questions that many people ask when they first learn about this type of document
All contents about the certificate of origin (C/O) will be answered by MRS Steel in the article below. We invite you to read along.
What is C/O? Let's find out in the article below
What is a certificate of origin?
To help you better understand what is a certificate of origin? Please read the section below.
Definition of a certificate of origin
What is C/O? This is a question many people ask when conducting import/export activities for the first time. A certificate of origin is a document that shows which country the goods were produced in. The C/O contains information related to the product and the country exporting the goods. Normally, a C/O will be issued by the competent authority of the exporting country for the exported goods of that country. C/O must also comply with all regulations of the exporting and importing countries regarding rules of origin.
The main purpose of the certificate of origin is to prove that the goods have a clear origin and are legal in terms of the tariff regulations of both exporting and importing countries. A C/O is also an important document to determine whether the goods are eligible for import or whether they are taxable or not.
What's included in a certificate of origin?
If you already know what a certificate of origin is, let's next find out what the certificate of origin includes.
Certificates of origin help provide us with the origin of goods produced in a certain territory or country. Normally, on the certificate of origin, there will be all the following information:
- The contact information of the parties includes the name and address of the manufacturer, exporter, or importer.
- Information about the type of goods: product name, quantity, size, weight,...
- Information about the means of transporting the goods, place of loading and unloading of goods, bill of lading,...
- Commercial invoice
Information required on the certificate of origin
Classification of types of certificates of origin
Currently, certificates of origin are divided into two main types: non-preferential certificates of origin and preferential certificates of origin.
Non-preferential rules of origin
A non-preferential rule of origin is a regular certificate of origin; a non-preferential rule of origin indicates that the exported goods are not eligible for preferential duty rates under trade agreements between countries. In other words, non-preferential rules of origin do not have the function of reducing duty rates or import duties on goods; they only have the role of certifying the origin of this type of goods.
C/O form B is a non-preferential C/O
Preferential rules of origin
Preferential rules of origin are certificates of origin issued for goods from countries with free trade agreements, through which orders will be reduced or exempted from taxes to countries with policies of this exclusive offer. For example: Generalized Preferential Tariffs (GSP), Commonwealth Certificate of Preferences (CPC), Common Effective Tariff Preferentials (CEPT), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),...
C/O form D issued by the Ministry of Industry and Trade (Vietnam) enjoys preferential tariffs
Importance of Certificates of Origin
Do you clearly understand what is C/O? Next, join MRS Steel to learn about the importance of a certificate of origin.
- Enjoy duty incentives: A certificate of origin is an extremely important document that helps determine the origin of goods and determine whether these goods receive duty incentives or not. A valid certificate of origin will help businesses significantly reduce the amount of import duty they have to pay for their products.
- Avoiding trade defense measures: In cases where one country's goods are dumped in another country's market, a certificate of origin helps determine the origin, making anti-dumping and anti-dumping actions necessary. The application of anti-subsidy duties becomes more available.
- Determining import standards: For some products, the certificate of origin will determine whether that country's goods are eligible to be imported into another country or not.
C/O is an important document that helps reduce duties
MRS Steel - The steel supplier has a certificate of origin
MRS Steel is one of the leading reputable steel exporters in Vietnam. We are an important partner of many big brands such as Hoa Phat, Hoa Sen, Ton Dong A,... All steel products provided by MRS Steel have a certificate of origin accompanying them. An extremely reasonable price compared to the market.
Currently, MRS Steel specializes in providing steel products to countries such as Mexico, Australia, Malaysia, Indonesia,... If you need to import Vietnamese steel products, please contact us via WhatsApp at +84 76 911 2358 or via email at vanloc@mrssteel.com.vn
MRS Steel has helped you better understand what is C/O? Hopefully, the above article has helped you get a better overview of the certificate of origin as well as its importance for import and export activities. Follow MRS Steel for more useful information about the steel industry.
