![]() Given that a commercial invoice is also used for customs declaration purposes, any misinformation may lead to underpayment of the correct amount of duties and taxes due and their legal ramifications. 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. Contents hide 1 Commercial Invoice Templates. It can also be used by customs to establish the worth of imported merchandise for the evaluation of duties and taxes. 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. Simply put, a commercial invoice is a document which serves as proof of transaction between a buyer and a seller. 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.
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