Do you need a commercial invoice? What is a commercial invoice? This video from Sourcing Nova your Chinese product sourcing specialist will explain this all important document to you and why you need it The commercial invoice is a legal document of sale from your buyer and sourcing agent in China to you As the buyer of products from Chinese manufacturers the commercial invoice is your bill Having one is necessary during the importation process of your country The customs agency in your home country uses the commercial invoice to determine tariffs taxes and duties on your products Failure to have or produce a commercial invoice at customs results in delays and loss of revenue Blank commercial invoice forms are found on line from a variety of locations and each of the forms contains the same necessary information Purchasing products from Chinese manufacturers require two invoices: the pro-forma invoice at the beginning and the commercial invoice at the end Make certain you fill out all of this information correctly and fully If you do not you will delay your products at the customs entry port Thanks for watching Be sure to like subscribe and click the notification bell for updates!.
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How to prepare Commercial Invoice
About Commercial Invoice
A commercial invoice is a formal document used in international trade transactions. It provides details about the sale and shipment of goods or services from a seller to a buyer. This invoice is required for customs clearance purposes and serves as evidence of the transaction, including the description, quantity, value, and terms of the goods being shipped. Several parties require a commercial invoice: 1. Exporter/Seller: The seller is responsible for preparing the commercial invoice. It includes their business details, such as company name, address, and contact information. The seller needs it to ensure accurate billing and proper documentation for the export. 2. Importer/Buyer: The buyer needs a commercial invoice to verify the details of the goods purchased, including quantities and prices. It helps the buyer with their accounting and tax compliance, as well as ensuring the correct receipt of the goods. 3. Customs Authorities: Customs officials require a commercial invoice to assess the proper duty and tax on imported goods. They use it to verify the declared value of the goods and ensure compliance with import regulations. 4. Banks and Financial Institutions: Banks and financial institutions may request a commercial invoice as part of the payment process or when providing financing for international trade transactions. The invoice helps them validate the transaction and establish the value for financing purposes. 5. Freight Forwarders and Carriers: Freight forwarders and carriers use the commercial invoice to accurately determine freight charges, calculate insurance premiums, and arrange transportation for the goods being shipped. In summary, a commercial invoice is essential for both the seller and buyer in international trade. It is required by customs authorities, banks, freight forwarders, and carriers to facilitate the smooth processing and payment for goods or services being transported across borders.
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