Commercial Invoice on Import Export Contract

Commercial Invoice is generally issued by the importer, exporter or some relevant non-governmental business organizations. Invoices is a bill for the goods from the seller to the buyer. It is one of the most important documents used in international trade.

Even if the importer may have opened a Letter of Credit, the exporter will usually not be paid until he presents a Commercial Invoice along with other documents to the bank. The invoice serves as a record of the essential details of a transaction. Commercial Invoice

An invoice must show the following basic information about the transaction:

  • Buyer's order number
  • Invoice number and date
  • Shipment terms
  • Names and addresses of the seller and buyer
  • Country from which the shipment is made
  • Description of the goods
  • Quantity, weight or measurement of the goods
  • Unit price
  • Total amount payable, including price of goods, freight, insurance and so on
  • Rebate or similar incentives
  • Signature of the exporter

Common  Export Document - Commercial Invoice

The commercial invoice is a legal document between the  exporter  and the  buyer (in this case, the foreign buyer)  that clearly  states the  goods  being sold and the amount  the customer is to pay. The commercial invoice is one of the main documents used by customs in determining customs duties.  A commercial invoice is a bill for the goods from the seller to the buyer. These  documents are often used by governments to determine the true value of goods when assessing customs duties. Governments that use the commercial invoice to control imports will often specify its form, content, number of copies, language to be used and other characteristics. Source From International Trade Administration U.S. Department of Commerce   

Commercial Invoice is a Custom Document

When used in foreign trade, a commercial invoice is a customs document. It is used as a customs declaration provided by the person or corporation that is exporting an item across international borders. Although there is no standard format, the document must include a few specific pieces of information such as the parties involved in the shipping transaction, the goods being transported, the country of manufacture, and the Harmonized System codes for those goods. A commercial invoice must often include a statement certifying that the invoice is true, and a signature. A commercial invoice is used to calculate tariffs, international commercial terms, and is commonly used for customs purposes. Commercial Invoices are generally not needed for shipments between EU Countries—just between EU Countries and non-EU Countries.

                                   Commercial Invoice Related Terms
                                        In An Import Export Contract

Commercial Invoice

From Commercial Invoice to Import Export Contract Terms
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