In an ever-changing business environment that continues to modernise by the second, the electronic delivery of Certificates of Origin (CO) has become essential. Many chambers of commerce offer online CO services to expedite the application and issuance process, as well as security.
Electronic Certificates of Origin (eCO) systems include safeguard measures, such as online verification of the authenticity of CO and optical watermarking technology. They also offer electronic application, in addition to issuance, complete with digital rubber stamps of the chamber and signatures of authorised officials. eCO systems ensure a greater level of transparency, reduce costs and save time among customs administrations, exporters, importers, banks and stakeholders.
eCO Task Force
Chambers of Commerce issue millions of CO each year. To keep pace with the rapid shift to e-Business and improve efficiency, eCO systems are a top priority for chambers. As such, a specialised task force was created. Its main missions include:
- enhancing and raising the level of acceptability of eCO by stakeholders, customs administrations, banks for letter of credit clearance, insurance companies and importers;
- protecting of the integrity and confidentiality of eCO details;
- identifying the minimum required standards for the issuance of eCO;
- spreading awareness of eCO developments;
- working to host forums as a means to share expertise and experiences; and
- encouraging the implementation of eCO services worldwide.