Failure to do so may result in lengthy hold-ups and shipping delay costs. It is a legal requirement to fill out a commercial invoice accurately. Risks of not filling out a commercial invoice accurately These may be one and the same or different. The packing list is sent to the receiver of the goods, or consignee, while the commercial invoice is sent to the party responsible for the payment of the goods. The commercial invoice, on the other hand, serves to detail the financial transaction for the sale of the goods being transported such as payment details, instructions, and terms. It’s also used to verify that all merchandise shipped by the exporter is received in good order and condition, as well as for stock-keeping and inventory purposes. It is a document that’s required in the event of any disputes or claims that may arise with the shipping line, customs, or between the buyer and seller for goods. The packing list serves a more logistical purpose with emphasis on the physical description of the goods being transported. While the information required on both documents are extremely similar and both are issued by the seller/exporter, the two documents serve very different purposes. It is of vital importance that the transaction and shipment information listed on the commercial invoice correspond to that on the packing list. Date of exportation, means of transport, and final destinationĭifference between commercial invoice and packing list.Incoterm under which the merchandise has been sold.Information related to the shipping of the merchandise Importer/buyer’s tax identification number (eg.Importer/buyer information (name, address, phone number, etc.).Exporter/seller’s tax identification number (eg.Exporter/seller information (name, address, phone number, etc.).Information related to the exporter and importer Whichever template you choose, ensure that the following details are included: While there is no fixed commercial invoice format, most of the information required is very similar and standardized across all templates. There are plenty of commercial invoice templates and samples to choose from online. Which is the best commercial invoice template? When filling out a commercial invoice, it is extremely important to make sure that information is clearly and accurately filled out. Information required on a commercial invoice for shipping
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