10 Questions
What is the primary purpose of a Certificate of Origin?
To certify the country of origin of the merchandise
Which countries typically require a Certificate of Origin?
Commonwealth countries and developed countries with GSP
Who can issue a Certificate of Origin?
Authorized agencies, such as the Chamber of Commerce
What is a Bill of Exchange also known as?
Foreign Draft
What are the two main functions of a Bill of Exchange?
To collect payment and exchange credit
When is a Bill of Exchange payable at sight?
When the Bill of Exchange is presented for payment
What happens when a Bill of Exchange is payable at sight?
It becomes a demand for payment and a receipt for payment
What is the purpose of requiring a Certificate of Origin at customs clearance?
To determine the country of origin for duty calculation
What is a prerequisite for obtaining a Certificate of Origin?
The goods must have substantial value addition
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
This quiz covers the concepts and procedures related to the Customs Declaration Annex Form (CDAF), a document required for exporting and importing products to and from Ethiopia.
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