Glossary
What is a commercial invoice?
A commercial invoice is the seller’s bill for an international sale and the document customs authorities rely on to establish a consignment’s value, classification and origin. Every dutiable shipment needs one; without it, goods cannot be cleared. |
What must a commercial invoice show?
- Seller and buyer names, addresses and EORI numbers
- Invoice number, date and terms of payment
- Full goods description, commodity code, quantity and unit
- Unit price, total value and currency
- Incoterms rule and named place
- Country of origin, with freight and insurance charges shown separately
Why accuracy decides your duty bill
Customs value under the WTO Valuation Agreement is normally the transaction value — the invoice price, adjusted for freight, insurance and certain additions. A vague goods description or missing commodity code pushes the entry into a manual check, and repeated errors invite a post-clearance audit with retrospective duty demands.
How does it differ from a proforma invoice?
A proforma invoice is a quotation issued before the sale is agreed. Customs will not accept it as proof of transaction value on a final import declaration, though it is often used for samples and for goods of no commercial value.
iCustoms reads commercial invoices automatically and maps every field to your declaration. |
