Get UWINC Commercial Invoice

It is issued by the exporter or seller to a buyer or importer. Who provides the commercial invoice? It is the seller (exporter) who prepares the commercial invoice.

The commercial invoice or other acceptable documentation shall contain: (1) An adequate description of the merchandise. (2) The quantities of the merchandise. (3) The values or approximate values of the merchandise.

Liquidated damages—monetary penalties—can be assessed against an importer for failing to provide a commercial invoice [2]. This can happen if Customs is at your facility performing a formal audit or if they request a hard copy of the commercial invoice for any entry, at any time.

Foreign buyers require this document in order to prove ownership and arrange for payment. As the shipment's exporter, you're responsible for preparing the Commercial Invoice form. Since it serves as the foundation for all other international shipping documents, it's the first one you should complete.

A commercial invoice must always be filled out by the sender. It is attached to the package so that customs can access it without having to open the package.

What Is The Difference Between a Commercial Invoice and an Invoice? An invoice is a bill issued by a business after the delivery of a product or service, to detail the sale and to request payment. A commercial invoice, on the other hand, is a type of invoice used for international deliveries.

The elements below are required to form a commercial invoice that is legally binding. Bank Details, Shipper and Receiver Details. Goods Description. Commodity Code. Origin Country. Invoice Total Declared Value. Type of Export. Terms of Trade (Incoterms) Reason for export.

A bill of lading is an official contract between the seller and the shipping company containing details of goods sold, quantity, and the recipient's address. A commercial invoice plays a vital role in determining the correct value of imported goods. It also helps to assess the number of duties and taxes.