What is commercial invoice definition?
A commercial invoice is a document that provides a detailed breakdown of a product or service being sold. It serves as a proof of transaction between the seller and the buyer, showcasing important information such as the quantity, price, and terms of the sale. The commercial invoice is crucial for both parties as it helps facilitate customs clearance, determine the value of the goods for taxation purposes, and serves as a record for accounting and legal purposes.
What are the types of commercial invoice definition?
There are several types of commercial invoices that can be used depending on the nature of the transaction. The most common types include:
Proforma Invoice: This type of commercial invoice is issued before the actual goods are delivered or services are performed. It serves as a preliminary invoice that outlines the estimated costs and terms of the transaction.
Consular Invoice: This type of commercial invoice is required by certain countries and is verified and stamped by the consul of the importing country. It includes all the necessary information for customs clearance, including the consular fee.
Customs Invoice: This type of commercial invoice is used for customs purposes to declare the value of the goods being imported or exported. It includes detailed information about the goods, their origin, and their value.
Commercial Invoice for Export: This type of commercial invoice is used when goods are being exported from one country to another. It includes information about the exporter, the buyer, and the goods themselves, as well as details of the transaction.
Commercial Invoice for Import: This type of commercial invoice is used when goods are being imported into a country. It includes information about the importer, the seller, and the goods, as well as details of the transaction.
How to complete commercial invoice definition
Completing a commercial invoice requires attention to detail and accurate information. Here are the steps to complete a commercial invoice:
01
Start by identifying the buyer and seller information. Include the names, addresses, and contact details of both parties.
02
Provide a detailed description of the goods or services being sold. Include information such as quantity, unit price, total cost, and any applicable taxes or fees.
03
Include the terms of the sale, such as payment terms, delivery terms, and any additional terms or conditions agreed upon between the buyer and seller.
04
Calculate the total value of the transaction, including any discounts or additional charges.
05
Sign and date the commercial invoice to certify its accuracy and authenticity.
06
Make copies of the completed commercial invoice for your records and for the buyer.
07
Finally, share the commercial invoice with the buyer, either physically or electronically, to ensure smooth processing of the transaction.
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