What is a Certificate of Origin..??
If you are in the business of international trade you would have no doubt heard about a Certificate of Origin.. But not everyone is familiar with what is a certificate of origin, why it is required, who issues it etc.. This article aims to clarify these points..
A Trade agreement is a contractual arrangement between countries concerning their trade relationships and how they conduct trade with each other..
Customs department in the importing country may require a “proof of origin” in order to determine whether or not the cargo that is imported may be subjected to trade measures such as the preferential duty tariff (for stuff that is imported from with the PTA bloc), free trade deals, prohibited goods etc..
ICC’s initiatives to standardise digital trade
The International Chamber of Commerce (ICC) has launched some digital initiatives aimed at creating a collaborative cross-industry effort to enable the standardisation of digital trade..
The first one called The ICC Digital Trade Standards Initiative (DSI), will build on work done by various like minded initiatives, many of which aim to digitise trade, notably through the development of open trade and technology standards to promote interoperability.
In the other initiative, the ICC is partnering with various government, business and other stakeholders to create digital solutions that will advance economic prosperity for all.
In line with its Declaration for the Next Century of Global Business, the ICC is committed to maximising the benefits of the digital economy through establishing key partnerships to unify, simplify, and transform trade processes for all.
Consequences of using incorrect Incoterms
Ever since its introduction in 1936, Incoterms® has been a paradox to many many buyers, sellers, traders, freight forwarders, shipping lines and other service providers involved in the business of global trade..
There are several consequences of using the incorrect Incoterms® and users need to fully comprehend what it means when they put a three letter Incoterms® rule into their sales contract..
if you are struggling to learn and understand the rules and how to apply them, don’t worry, help is at hand..
ICC Academy, the educational arm of the ICC has created a new online training course – the Incoterms® 2020 Certificate which is designed to help users both experienced and inexperienced, a comprehensive and up-to-date understanding of the rules, avoid mistakes and save costs.. This course is the world’s only ICC-endorsed online training on the Incoterms® 2020 rules..
No other online training on the new rules can offer the same level of expertise and this course can be purchased online here..
So do yourself a favour and take this highly recommended course which will greatly enhance your knowledge on this crucial trade related subject..
The correct usage of Incoterms® 2010 Rules – Explanation from the ICC
Meet the Incoterms® 2010 rules experts
Incoterms 2010 – An analysis – Part 1
Who pays freight charges for a shipment..??
Charges that are applicable for a shipment can be classified as Ocean related charges and Landside charges.. This article discussed who pays for freight charges between the buyer and seller..