Jasmine Gladstone

A bill of exchange is a demand for payment issued by the seller to the buyer. A valid bill of exchange facilitates payment of trade transactions and provides a more straightforward way of debt recovery in the event of default than relying on the underlying commercial contract. A bill of exchange is not a guarantee of payment. However, it does allow for legal recourse against the acceptor in the event that payment is not made.

The global harmonised system (HS) is the common international system for classifying goods – used for international trade negotiations for example, and applied by most trading nations. Run by the World Customs Organization, it uses 6-digits and is used worldwide.
The EU's combined nomenclature (CN) is based on the HD but uses 8–digit codes for a more detailed categorisation – which helps to give you clear, detailed information on your product.

A sizable portion of global trade occurs via countries exporting and importing goods within the same industry to each other—called intra-industry trade. This type of trade is particularly characteristic of the large flows of products between advanced economies, which have similar resource endowments and levels of development. These trade patterns suggest that there is another basis for trade, other than comparative advantage: the use of economies of scale or increasing returns to scale. Economies of scale exist when a production process is more efficient (i.e., has lower unit costs) the larger the scale at which it takes place. While the United States and Germany, for example, could be equally proficient at producing a wide array of goods such as autos and pharmaceuticals, neither has the productive capacity to produce the full range of goods optimally. Therefore, a pattern of specialization tends to occur with countries producing and trading some sub-set or “niche” of these goods.

An EC Certificate of Origin is a non-preferential document that certifies what the origin of the products is in a shipment. This may be requested by a client or for import compliance.
For example, textiles shipped from the UK to Argentina require an EC Certificate of Origin.
An EUR1 is used for countries where the EU has preferential trade agreements, an EUR1 is required so that it confirms the goods shipped of EU origin and the products can have preferential import duty applied to them.

The certificate of origin (COO) is used to identify the country of manufacture of the goods in your export shipment. It may have to be certified by a chamber of commerce or consulate. Some countries have free trade agreements (FTAs) with each other that specify a version of the certificate of origin form. Many countries accept a generic certificate of origin or even a statement of origin on the commercial invoice. Most countries also accept an electronic certificate of origin (eCO) that has been electronically signed by a chamber of commerce, who then registers the legitimacy of the certificate with customs authorities around the world. Using an eCO can be faster and less expensive than traditional paper certificates. A generic certificate of origin usually includes: the exporter and importer name and address; a description of the goods including the 10-digit Harmonized Tariff System (HTS) Code and the country of origin for each item; the certification statement used by the chamber of commerce or consulate certifying the goods along with their signature and stamp; the location where and when the certification took place.