Commercial Invoice Or Proforma Invoice
What is commercial invoice or proforma invoice?
A commercial invoice, also known as a proforma invoice, is a document that provides a detailed description of goods or services to be sold and their corresponding prices. It is typically used in international trade to inform customs authorities about the nature, quantity, and value of the goods being transported.
What are the types of commercial invoice or proforma invoice?
There are several types of commercial invoices or proforma invoices based on the purpose they serve. Some common types include:
Proforma Invoice: This type of invoice is used to provide an estimated cost to the buyer before the actual shipment of goods.
Interim Invoice: It is issued during the ongoing process of a project or service delivery, indicating partial progress and payment.
Final Invoice: This type of invoice is issued at the completion of a project or service to request the final payment.
Consular Invoice: It is required by some countries' customs authorities to validate the commercial value or origin of the goods.
Credit Memo: This invoice serves the purpose of recording a reduction in the total amount payable due to returns or discounts.
Debit Memo: It documents increases or additions to the original invoice due to additional charges or corrections.
Commercial Invoice for Customs: This invoice is used specifically for customs purposes and includes detailed information required by customs authorities.
How to complete commercial invoice or proforma invoice
Completing a commercial invoice or proforma invoice accurately is crucial to ensure smooth customs clearance and proper declaration of goods. Here are the steps to follow:
01
Include your company's name, address, and contact information at the top of the invoice.
02
Provide the buyer's name, address, and contact information.
03
Include a unique invoice number and date to track and reference the invoice.
04
Specify the terms of payment, such as the due date and accepted payment methods.
05
List the goods or services being sold, including detailed descriptions, quantities, and unit prices.
06
Calculate the total cost for each item and include any additional charges, such as shipping fees or taxes.
07
Provide any applicable discounts or promotions.
08
Summarize the total amount payable, including any taxes or fees.
09
Include any necessary legal declarations or certifications.
10
Ensure the invoice is signed and dated by an authorized representative of the company.
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Questions & answers
What is pro forma Fedex?
A proforma invoice from Fedex is essentially an estimate of a Fedex commercial invoice that would be used for international shipping of goods other than documents. It may look almost identical to the final commercial invoice but will include clear labeling that it is the proforma invoice.
What is the difference between a proforma invoice and commercial invoice?
Basically, the main distinction is that one is used as an estimate, and the other as a request for final payment. A pro forma is used before goods are shipped and no payment is required. A commercial invoice is sent after the goods have been delivered and now, it is time to pay.
Do I need a commercial or proforma invoice Fedex?
The Commercial Invoice is required for all international commodity shipments. In other words, it's required for any international shipment with commercial value. Most non-document shipments are classified as commodity shipments.
What is the difference between a proforma invoice and an invoice?
What Is the Difference Between an Invoice and Proforma Invoice? While an invoice is a commercial instrument that states the total amount due, the proforma invoice is a declaration by the seller to provide products and services on a specified date and time.
How do I make a commercial invoice?
How to Make a Commercial Invoice: Step-By-Step Guide Download a Commercial Invoice Template. Fill in Seller Details. Fill in Customer Details. Assign an Invoice Number. Include a Customer Reference Number. Include the Terms of Sale. Detail the Terms of Payment. Identify the Currency.
Do I need to include commercial invoice?
A commercial invoice is a required document for the export and import clearance process. It is sometimes used for foreign exchange purposes. In the buyer's country, it is the document that is used by their customs officials to assess import duties and taxes.
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