The commercial invoice is a document which contains key information for shipping goods internationally.
Customs brokers, freight forwarders, banks, buyers, and insurance companies all rely on information found on the commercial invoice in order to fulfill their tasks in the shipping process.
A proper commercial invoice should contain the:
shipper and buyer information
origin of materials
country of destination
purchase order reference
terms of sale (Incoterm)
schedule B code
value of goods and currency used
description and quantities of goods
anti-diversion clause (U.S. exports)
For customs purposes, the commercial invoice is used to calculate duties, taxes and VAT that are owed based on the H.S. code, origin and value of the goods.
Errors on a commercial invoice can cause customs clearance delays and miscalculated duties and taxes which will damage your bank account and customer relationships.
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