{"id":716,"date":"2018-02-06T17:28:04","date_gmt":"2018-02-06T22:28:04","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=716"},"modified":"2019-04-07T06:12:32","modified_gmt":"2019-04-07T10:12:32","slug":"certificate-of-origin-presented-instead-of-a-gsp-form-a-discrepancy","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/02\/06\/certificate-of-origin-presented-instead-of-a-gsp-form-a-discrepancy\/","title":{"rendered":"Certificate of Origin Presented Instead of a GSP Form A Discrepancy"},"content":{"rendered":"<p>The certificate of origin verifies the country in which the goods to be exported<br \/>\nwere originally manufactured.<\/p>\n<p>The certificate of origin could be issued on paper or\u00a0electronic form.<\/p>\n<p>The issuing body of the certificate of origin could be the government authority or a body empowered by the government.<\/p>\n<p>Furthermore,\u00a0the\u00a0producer, manufacturer or exporter could also issue a certificate of origin by himself, either in\u00a0self-issued certificate of origin or declaration of origin format.<\/p>\n<p>Certificates of origin can be classified under two main groups:<\/p>\n<ul>\n<li>Ordinary Certificates of Origin<\/li>\n<li>Preferential Certificates of Origin<\/li>\n<\/ul>\n<p>When a credit requires the presentation of a specific form of certificate of origin such as a GSP Form A, only a document in that specific form is to be presented.<\/p>\n<p><strong>Examples of Preferential Certificates of Origin: (Specific Form of Certificates of Origin)<\/strong><\/p>\n<ul>\n<li>Certificate of Origin GSP Form A<\/li>\n<li>CAFTA-DR Certificate of Origin<\/li>\n<li>North American Free Trade Agreement (NAFTA) Certificate of Origin<\/li>\n<li>EUR1 Form Movement Certificate<\/li>\n<li>ATR Movement Certificate<\/li>\n<\/ul>\n<p>As per letter of credit rules and international standard banking practices a certificate of origin must be presented as outlined in the letter of credit.<\/p>\n<p>If a beneficiary of a letter of credit presents a certificate of origin, which is not prepared in that specific form, banks raise a discrepancy, which is known as certificate of origin not presented in a specific form; such as that an ordinary certificate of origin presented instead of a GSP Form A.<\/p>\n<h4><span style=\"color: #000000;\"><strong>Discrepancy Example: Certificate of Origin Presented Instead of a GSP Form A:<\/strong><\/span><\/h4>\n<p>A letter of credit has been issued in SWIFT format, subject to UCPURR latest version, with the following details:<\/p>\n<p style=\"text-align: center;\"><span class=\"td_text_highlight_marker_blue td_text_highlight_marker\"><strong>Letter of Credit Conditions<\/strong><\/span><\/p>\n<p><strong>Field 45A: Description of Goods and or Services:<\/strong> Soccer uniforms 12500 pieces. As stated on order sheet 41, dated 10th March 2014. Delivery Terms: FOB Port of Chittagong Incoterms 2010.<\/p>\n<p><strong>Field 46A: Documents Required:<\/strong><\/p>\n<ul>\n<li>Signed commercial invoices in two originals showing letter of credit number and certifying that the merchandise is as per purchase order.<\/li>\n<li>Original GPS FORM A Certificate of Origin signed by the exporter, authorized by the appropriate customs authorities under their stamp and signature dated not later than the transport document date and free of any remark such as \u201cSimplified procedure\u201d or words similar effect.<\/li>\n<li>Full set of original bill of lading clean on board established to the order of The Australia and New Zealand Banking Group Limited notify applicant marked freight collect.<\/li>\n<\/ul>\n<p>The beneficiary presented a certificate of origin as shown on the below picture.<\/p>\n<p style=\"text-align: center;\"><span class=\"td_text_highlight_marker_pink td_text_highlight_marker\"><strong>Certificate of Origin<\/strong><\/span><\/p>\n<p><a href=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-discrepancy-not-FormA-presented.png\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-720\" src=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-discrepancy-not-FormA-presented.png\" alt=\"certificate of origin discrepancy gsp form a\" width=\"554\" height=\"774\" srcset=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-discrepancy-not-FormA-presented.png 554w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-discrepancy-not-FormA-presented-215x300.png 215w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-discrepancy-not-FormA-presented-301x420.png 301w\" sizes=\"(max-width: 554px) 100vw, 554px\" \/><\/a><\/p>\n<p><strong>Discrepancy:<\/strong> The letter of credit clearly requests a special form of a certificate of origin, which is GSP Form A. The beneficiary should have presented a specific GSP Form A certificate origin, whereas ordinary certificate of origin has been presented, instead.<\/p>\n<p><strong>Reason for Discrepancy:<\/strong> When a credit requires the presentation of a specific form of certificate of origin such as a GSP Form A, only a document in that specific form is to be presented.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The certificate of origin verifies the country in which the goods to be exported were originally manufactured. The certificate of origin could be issued on paper or\u00a0electronic form. The issuing body of the certificate of origin could be the government<\/p>\n","protected":false},"author":1,"featured_media":722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,83],"tags":[135,136,84],"class_list":["post-716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-certificate-of-origin-discrepancies","category-letter-of-credit-discrepancies","tag-certificate-of-origin","tag-certificate-of-origin-discrepancies","tag-letter-of-credit-discrepancies"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=716"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/722"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}