A commercial invoice is a legally binding customs document required for international shipments that serves as the primary record of a transaction between an exporter (seller) and an importer (buyer). This document provides comprehensive details about the goods being shipped, including their description, quantity, value, and terms of sale, and functions as both proof of the commercial transaction and the basis for customs authorities to assess duties, taxes, and tariffs.
Key Characteristics
- Legal and Regulatory Requirement
- Basis for Customs Valuation and Duty Assessment
- Comprehensive Transaction Documentation
- Multi-Functional Business Document
- Distinction from Similar Documents
