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Checkout our detailed guide on incoterms. Shipper: Name and address of the shipper Consignee: Name and address of the consignee (receiving party) Invoice Date: Date invoice was issued Method of Shipping: This could be SEA, AIR, TRUCK or RAIL Type of Shipment: FCL (Full Container Load), LCL (Less Than a Container Load), FTL (Full Truck Load), LTL (Less than a truck load), Air, Break Bulk Country of Origin: Country where the goods were manufactured Country of Destination: Country where goods will be finally delivered (Usually the country where the buyer resides) Port of Loading and Port of Discharge: Seaport or airport in respective loading and discharge locations Departure Date: Date of Delivery or handover (depends on the incoterms) Incoterms: Could vary from EXW, FOB, CFR, DDP, DAP. What information needs to be filled in a Commercial Invoice? Correctly filled Commercial Invoice will eliminate any probability of being liable for warnings and fines that may arise .Accurately completing Commercial Invoice ensures your shipment moves smoothly through customs without any delays.It can be used to resolve disputes between the buyer and the seller regarding shipping, payment terms and price, given it is a contract that both parties have agreed on.For businesses, Commercial Invoice acts as a proof of purchase or contract and without it, there is no verifiable way of knowing the transaction happened between the buyer and the seller.
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However, if the goods are being traded within EU you may not require a commercial invoice as goods moved within EU are in ‘free circulation’ and can be moved without customs or regulations. Used by custom authorities to charge applicable taxes and duties based on classification of goodsĬommercial Invoice is used in shipments where goods are being shipped internationally.Acts as a contract between the buyer and seller detailing what is being purchased and at what price.It contains information such as, but not limited to, consignee, shipper, shipping terms, payment terms, description and price of goods and total amount. A commercial invoice is an export document that is issued by the buyer in international shipments.