Commercial invoice template meaning code#

The best way, however, is to rely on a pre-filled invoice online. This, in turn, ensures trade compliance, doing away with any problems and delays in shipment. Most of these templates are aligned to the UN Layout Key recommendations for trade documentation. It may also confuse buyers and freight forwarders, leading to fines and demurrage charges charges.Įxporters could consider using export documentation tools such as IncoDocs which allows one to create packing list and other important shipping documents. However, these templates tend to miss some important information, which could lead to expensive delays at the customs department of the importing country. Shippers generally prefer using a template in Microsoft Word or Excel to share invoice details. In the end, provide the name, date, and signature of the authorized company representative.Īlso Read: Forex Hedge | Currency Hedging Strategy for Exporters Do not overlook to mention the terms of trade or the agreement between the two trading parties.

Commercial invoice template meaning code#

This would include the description, quantity, the product classification code like the or the, unit type, price, and currency. Reference number of the Shipping BL document, Marine cover policy number, The LC, Reference number of the Air way bill document Īpart from these components, the commercial invoice must also have the product details.Names of the loading port, discharge port, and destination.Types of Containers ( Reefer Container, TEU containers, Insulated Containers, etc).Type of shipment (FCL, LCL, breakbulk, etc).Mode of dispatch (whether by road, rail, air, or sea).Buyer’s details if they are not essentially a consignee.Importer’s company name, address, and contact details.Exporter’s company name, address, and contact number.Hence, the exporter must take care to provide all the information in the correct format so that the importer does not face any trouble at the customs.Īny commercial invoice for shipping & export should contain following essential details: Since international commercial invoices do not show tax as international transactions, they may not be subjected to local taxes. The document is to be prepared when the exporter is ready to ship the goods.

When is a Commercial Invoice required?Ī commercial invoice is required for any international shipment which carries a commercial value to fulfil all regulations under the export/import country’s customs regulation. So, if an exporter ships airfreight via FedEx or DHL, they must provide a FedEx commercial invoice or a DHL commercial invoice. It is mandatory for all sea freight, air freight and incoterms shipments. Why is a Commercial Invoice important?Ī commercial invoice is prepared with information regarding the shipment to the buyer, freight forwarder, customs broker, C & F agent, and bank.

The buyer/importer can then use this invoice – and other shipping documents – to clear the shipment at customs in the country of export and import. It is a record that notifies the authorities that the invoice displayed is accurate and duly signed, offering parties with reliable terms. As it is legally legitimate and holds no standard format, the seller (exporter) can issue the document to the buyer (importer) once the goods are shipped. A commercial invoice is a legal document used for processing agreements in international trade.