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Customs Declaration Annex Form (CDAF) Quiz

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Customs Declaration Annex Form (CDAF) Quiz

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Questions and Answers

What is the primary purpose of a Certificate of Origin?

To provide proof of payment

To prove the quality of the goods

To determine the import duty rate

To certify the country of origin of the merchandise (correct)

Which countries typically require a Certificate of Origin?

Developing countries only

Only countries with a Free Trade Agreement

All countries that participate in international trade

Commonwealth countries and developed countries with GSP (correct)

Who can issue a Certificate of Origin?

Only the government of the exporting country

Any third-party logistics provider

Authorized agencies, such as the Chamber of Commerce (correct)

The exporter themselves

What is a Bill of Exchange also known as?

Foreign Draft Signup and view all the answers

What are the two main functions of a Bill of Exchange?

To collect payment and exchange credit Signup and view all the answers

When is a Bill of Exchange payable at sight?

When the Bill of Exchange is presented for payment Signup and view all the answers

What happens when a Bill of Exchange is payable at sight?

It becomes a demand for payment and a receipt for payment Signup and view all the answers

What is the purpose of requiring a Certificate of Origin at customs clearance?

To determine the country of origin for duty calculation Signup and view all the answers

What is a prerequisite for obtaining a Certificate of Origin?

The goods must have substantial value addition Signup and view all the answers

What is the relationship between the Bill of Exchange and the banking channel?

The Bill of Exchange is used to facilitate payment through the banking channel Signup and view all the answers