Tuesday, May 7, 2013
MADRAS CHAMBER OF COMMERCE AND INDUSTRY - MCCI | Certificate Of Origin
MCCI –Its history :
The Birth of Madras Chamber:
Eighteen businessmen of Madras met at
the office of Binny & Co. on the 29th September 1836 and
unanimously resolved “that an Association be formed in Madras as Madras
Chamber of Commerce”. These founding members with John Alves Arbuthnot
as the Chairman made up the first Committee of the Chamber.
The Beginnings ……….
In the words of the first Chairman John Alves Arbuthnot, the objectives of the Chamber were
“…watch over and protect the interests
of trade; receive and collect information on all matters of mercantile
interest bearing upon the removal of grievances and promotion of the
common good; receive references on matters of custom or usage in doubt
or dispute, decide on the same and record the decisions made for further
reference and to form by that and other code of practices whereby the
transaction of business by all companies engaged in it are simplified
and facilitated”…..
Certificate Of Origin :
The Chamber is authorized by Government
to issue Certificates of Origin for goods exported from India. This
facility is offered to members as well as non-members at a nominal fee.
Trade Agreements between various
countries allow allotment of imports of certain quantity of a particular
article/commodity from a specified country e.g. coffee imports into
European countries. Some Trade Agreements allow preferential treatment
of customs duties if the article/commodity is imported from specific
countries e.g. UK and Commonwealth countries.
For the above purpose, the country of
origin of the goods becomes necessary either for assessing the quantity
or for customs formalities. In these cases, invariably the contracting
Governments are required to specify certifying agencies in their
respective countries to issue certificate of origin under Article 11 of
the International Convention relating to the simplification of the
Customs formalities signed at Geneva in 1923. The Government of India
issued in 1958 a list of Chambers of Commerce and Trade Associations in
India authorized to issue the certificates of origin and Madras Chamber
of Commerce & Industry is one of them.
The Chamber issues certificates of
origin to members as well as non-members and there is no distinction in
the form of the certificate or the method of issue as between members
and non-members. The fee charged for the issue of a certificate is :
- Rs.70/- per set consisting of 5 copies + Service Tax (for members)
- Rs.100/- per set consisting of 5 copies + Service Tax (for non-members)
The certificate of origin issued by the
Chamber contains all particulars such as the name of the exporter,
goods, quantity, marks, destination, vessel in which exported, date of
shipment, etc.
The Chamber also certifies / attests
other documents such as invoice, packing list, agency agreements, etc.
on payment of a nominal fee.
Click Here to download the Certificate of Origin form.
THE MADRAS CHAMBER OF COMMERCE AND INDUSTRY
Karumuttu Centre, I floor
634 Anna Salai, Nandanam
Chennai - 600035
Tamilnadu, India
E - mail :
madraschamber@madraschamber.in
Telephone : + 91 - 44 - 24349452 / 24349720 / 24349871
Sunday, March 3, 2013
Certificate of Origin
A Certificate of Origin (often abbreviated to
C/O or COO) is a document used in international trade. It is a
printed form, completed by the exporter or its agent and certified by
an issuing body, attesting that the goods in a particular export
shipment have been wholly produced, manufactured or processed in a
particular country.
The “origin” does not refer to the country where the goods were shipped from but to the country where they were made. In the event the products were manufactured in two or more countries, origin is obtained in the country where the last substantial economically justified working or processing is carried out. An often used practice is that if more than 50% of the cost of producing the goods originates from one country, the "national content" is more than 50%, then, that country is acceptable as the country of origin.
When countries unite in trading agreements, they may allow Certificate of Origin to state the trading bloc, for example, the European Union (EU) as origin, rather than the specific country. Determining the origin of a product is important because it is a key basis for applying tariff and other important criteria. However, not all exporters need a certificate of origin, this will depend on the destination of the goods, their nature, and it can also depend on the financial institution involved in the export operation.
Certificate of Origin:
This coal was recovered from the wreck of R.M.S.
Titanic during the 1994 Titanic Research and Recovery ExpeditionThe “origin” does not refer to the country where the goods were shipped from but to the country where they were made. In the event the products were manufactured in two or more countries, origin is obtained in the country where the last substantial economically justified working or processing is carried out. An often used practice is that if more than 50% of the cost of producing the goods originates from one country, the "national content" is more than 50%, then, that country is acceptable as the country of origin.
When countries unite in trading agreements, they may allow Certificate of Origin to state the trading bloc, for example, the European Union (EU) as origin, rather than the specific country. Determining the origin of a product is important because it is a key basis for applying tariff and other important criteria. However, not all exporters need a certificate of origin, this will depend on the destination of the goods, their nature, and it can also depend on the financial institution involved in the export operation.
Subscribe to:
Posts (Atom)