If you are looking to export goods from Korea to the United States, it is important to obtain a certificate of origin to take advantage of the Korea-US Free Trade Agreement (KORUS FTA). This agreement eliminates or reduces import tariffs on goods traded between the two countries, making it easier and more affordable to do business. In this article, we will discuss what a certificate of origin is, why it is important, and provide a template that you can use to create one.
What is a Certificate of Origin?
A certificate of origin is a document that confirms the origin of goods being exported. It is used to determine the country of origin of goods for the purpose of assessing trade preferences, tariffs, and other import/export regulations. This document must be completed accurately and truthfully, as it is a legal requirement for many countries.
Why is a Certificate of Origin Important?
Having a certificate of origin is essential for exporting goods from Korea to the United States. This is because the KORUS FTA requires that goods must meet certain criteria to qualify for duty-free treatment. To be eligible for duty-free treatment, goods must originate in Korea and be shipped directly to the United States. A certificate of origin is the proof that customs officials will require to verify that the goods meet these criteria.
Certificate of Origin Korea-US Free Trade Agreement Template
To create a certificate of origin, you can use a template like the one provided below. This template is designed specifically for exports from Korea to the United States under the KORUS FTA.
Certificate of Origin
1. Exporter
Name:
Address:
Phone Number:
Email:
2. Proforma Invoice/Invoice Number:
3. Buyer
Name:
Address:
4. Goods
Description:
Harmonized Tariff Schedule Number:
5. Origin Criteria
Country of Origin:
Preference Criterion (A/B):
Producer:
6. Declaration
The undersigned hereby declares that the above-stated information is true and accurate to the best of their knowledge, and that the goods meet the requirements of the Korea-US Free Trade Agreement.
Signature:
Date:
Conclusion
Obtaining a certificate of origin is an essential step in exporting goods from Korea to the United States under the KORUS FTA. This document verifies that the goods meet the origin criteria and are eligible for duty-free treatment. By using a template like the one provided in this article, you can ensure that your certificate of origin is completed accurately and meets all legal requirements.