In international trade, commercial invoice is used as customs documents by exporters or importers. This is the proof of purchase and sale between the buyer and the seller. It is like your cargo passport, allowing global cargo clearance. There is no standard format, but commercial invoices must include:
- The name and address of the buyer and seller
- Detailed description of the goods
- Country of manufacture
- HS code of the goods shipped
- Value of goods
- Terms of Sale (Incoterms)
If you have additional details, you can add them such as order number, purchase order number or any other customer reference.
Why is a commercial invoice important?
The invoices are required for customs clearance to establish duties and taxes payable. Inaccurate information on commercial invoices may result in underpayment or overpayment of duties and taxes.
Incorrect customs declarations can lead to legal consequences as well as lengthy shipment delays. The commercial invoices also defines the terms of sale (Incoterms).
These terms establish the rights and obligations of the buyer and seller at the risk and cost of transportation during shipment.
What are the main contents of a commercial invoice?
There is no uniform format for the invoices, and each unit that issues commercial invoices has its own invoice format. Although the formats are different, the items filled in the invoices are similar. In general, a commercial invoices should have the following main contents:
The first part
The first part should list the name of the invoice, the invoice number, the contract number, the date and place of the invoice, and the name of the ship, port of loading, port of discharge, consignor, consignee, etc. This part is generally a printed item, and the blanks left behind must be filled in.
Text part
The text of the invoice mainly includes shipping marks, commodity names, quantity of goods, specifications, unit price, gross/net weight of the total price, etc.
Conclusion part
The conclusion of the invoice generally includes the special terms or sentences noted in the letter of credit.
The conclusion of the invoice also includes the signature of the issuer of the invoice. The signature of the issuer of the invoice is generally in the lower right corner of the invoice, and generally includes two parts: one is the name of the exporter (the beneficiary of the letter of credit), and the other is the hand-signed by the manager of the export company or other authorized person, and sometimes the hand-signed stamp Or instead of hand signed.
Commercial Invoice Template
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