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Why Do We Need A Commercial Invoice? Customs ClearanceĬustoms officials use the commercial invoice during custom clearance to assess the value of the goods and determine the applicable taxes and duties. However, the commercial invoice does not prove ownership or a title to the items that are done by a different document known as the Bill of Lading. It describes the conditions of the sale, such as the number and description of the items, the terms of payment, and other important information. The commercial invoice serves as a contract and evidence of sale between the seller and the customer in addition to being a customs obligation. Custom authorities will use this particular document to calculate the applicable taxes, tariffs, and duties on imported goods. It includes comprehensive information on the goods, their value, and the transaction between the customer and the supplier. Let’s first answer that question swirling in your mind right now, what is a commercial invoice?Ī commercial invoice is a specialised export document that acts as a customs declaration for items being delivered across international borders. Understanding the meaning of Commercial Invoice If you’re unsure what is a commercial invoice, we hope that by reading this article you can fully understand what a commercial invoice is. Some of these documents include air waybills, commercial invoices, bills of lading, pro forma invoices and many more.Īmong these documents, the commercial invoice is one of the most essential documents required for any shipments exported overseas.Ī commercial invoice is crucial for a seamless custom clearing process as well as for correctly calculating taxes and fees on your shipments. As a business owner, you may or may not be aware of the different types of documents that are required when shipping internationally.