WCO releases Data Model Version 4.2.0, advancing the digitalization of customs processes
BRUSSELS : The World Customs Organization (WCO) is proud to announce the release of the WCO Data Model Version 4.2.0, marking a significant step forward in the digitalization and harmonization of customs procedures worldwide. This latest version introduces two critical data sets: Customs Bonds and Certificates of Origin, providing WCO Members with tools to streamline operations, and enhance the efficiency of digital customs processes.
The WCO Data Model provides a comprehensive framework for standardizing data elements in cross-border trade. Version 4.2.0 builds on this foundation by incorporating standardized data sets that support key customs processes.
Key Highlights of Version 4.2.0:
Customs Bonds Information Package: This new data set enables WCO Members that require surety-issued customs bonds to streamline and digitalize their bonds submission processes. By adopting this standard, Members can reduce administrative burdens, enhance compliance, and automate obligation management to protect revenue. Importantly, the standardized approach also reduces the time and costs required for implementation, enabling Members to achieve operational efficiency and faster deployment of digitalized customs bond processes.
Certificate of Origin Information Package: Developed using the dataset created by the Technical Committee on Rules of Origin (TCRO), this package empowers Members to digitalize electronic Certificates of Origin (eCOs). This digitalization improves validation of product origin, helping to combat fraud and ensure fair trade practices.
The WCO Data Model Version 4.2.0 is now available to WCO Members and stakeholders. The WCO encourages its members to adopt and implement this latest version to fully realize the benefits of standardized and digitalized customs procedures.
About the World Customs Organization
The World Customs Organization (WCO) is an independent intergovernmental body established in 1952 to enhance the efficiency and effectiveness of Customs administrations worldwide. With 186 Members, the WCO is recognized as a leader in the development and promotion of international Customs standards and best practices.