November 22, 2009
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Commercial Invoice - INV
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The Commercial Invoice is the formal statement to the buyer for requesting payment for the specific value of the shipment. The Commercial Invoice, or Invoice, uses the buyer's Purchase Order and the seller's Packing List as its authority to demand payment. The Invoice is also used by exporting regulatory authorities as the source document for obtaining Certificates of Origin. It is can be used for determining shipment value for generating Certificates of Insurance. The Invoice is also used by the importing country for assessing import duties and tariffs.
Definition of a Commercial Invoice
An itemized list of goods shipped to a buyer, stating quantities, prices, and shipping charges.
Purpose of a Commercial Invoice
The Invoice is used to convey the amount of money to be paid by the buyer in USD $ dollars. The commercial Invoice is the primary document required by most Customs authorities for the clearance of shipments crossing international borders. It is a legal document and is subject to international law.
Process for an Invoice
The Invoice is issued to the buyer.
The Invoice is included in the negotiable document set.
| Fields for a Commercial Invoice | ||
| 01 | FROM (SELLER) | Seller providing the Goods and Services |
| 02 | TO (BUYER) | Buyer to be Invoiced |
| 03 | REMIT TO | Account to be Invoice |
| 04 | SHIP TO (ADDRESS) | Address for goods to be shipped to |
| 05 | NUMBER | Assigned number for reference |
| 06 | DATE | Date issued |
| 07 | REFERENCE | Purchase Order reference |
| 08 | TERMS OF SALE | Letter of Credit, Direct Collection; Advance Payment |
| 09 | SHIP VIA | Ocean, Air, Rail or Truck |
| 10 | INCOTERM | FOB; CFR; CIF, or (other) |
| 11 | LC NO | Letter of Credit number |
| 12 | SHIP FM | Ship From Port |
| 13 | SHIP TO | Ship To Port |
| 14 | - - | blank |
| 15 | ITEM NO | Goods Quoted Item Number |
| 16 | DESCRIPTION | Goods description |
| 17 | UOM | Unit of Measure |
| 18 | QUANTITY | Quantity of Unit of Measure |
| 19 | UNIT VALUE | Unit value in USD or local currency |
| 20 | AMOUNT | QUANTITY X UNIT VALUE = AMOUNT |
| 21 | SUBTOTAL | Total value of items |
| 22 | TAX | Total TAX ON SUBTOTAL |
| 23 | FREIGHT | Freight based on INCOTERM |
| 24 | TOTAL | Total amount to be paid by Buyer |
| 25 | USD $ | Amount in USD $ Dollars |
| 26 | AUTHORIZED SIGNATURE | Authorized Signature of Seller |
| 27 | REMARKS | Remarks |