Commercial Invoice

In the maritime context, a Commercial Invoice is a legal document between the supplier and the buyer that clearly describes the sold goods, and the amount due by the buyer. It is a fundamental document for international trade, used as a customs declaration provided by the person or corporation that is exporting an item across international borders. The document includes details such as description of the goods, their value, the freight and insurance charges if applicable, and delivery and payment terms. In maritime shipping, the commercial invoice is often used by government's customs department to determine the true value of goods when assessing the amount of customs duty. It is considered as the primary document in any international trade and a detailed version of a sales note with additional data around the buyer and seller, the goods being sold, pricing, and terms and conditions. The commercial invoice is one of the main documents used by customs in determining customs duties.