In foreign trade there are documents that are very important. These are the bill of lading which contains the number of items in the shipment. It also serves as a receipt and a contract. Another important document is the cargo arrival notice is a document issued by the sea carrier to inform the arrival of the documents. And lastly, is the commercial invoice. This document is used in foreign trade where the individual or the company declares the goods or products that are being shipped internationally. To simplify it, it is a document that is required by the bureau of customs and it helps in knowing the true value of freight transfer Australia if you are there in Australia.
The commercial invoice has several purposes. The first one is, it has an accounting purpose for the sellers and buyers. it contains the sales the seller has made and the documents settled by the buyer. This document also accurately check the seller’s ability to meet the needs of the contract. It comprehensively describes each item in the contract and likewise it contains the price. Moreover, it is used for assessing taxes. The commercial invoice contains the tax being calculated and shall be collected by the customs. Because the it will be custom clearance experts who will declare the clearance of goods, it will also be the one to approve the taxes being calculated. Lastly, there are businesses where in the bill of settlement is not being provided. If this happens, the invoice becomes the exchange of the bills as a method of payment. It can also serve as an insurance proof of claims as a supplement to the main documents.
There are necessary information that the commercial invoice should contain. First and foremost, it should contain the complete name of the shipper, together with his address, and his contact information like the telephone number, mobile number, and his e-mail address. The commercial invoice contains of course the information of the consignee or the person where in the goods are being shipped to. It includes the country where it should be shipped and the postal code as well. You may include your complete address and contact information in case the cargo might get lost, at least the company knows whom to contact to. In addition to this, it contains the date wherein the invoice was issued. After that the invoice number is also very important otherwise known as the purchase order. Most importantly, it contains the description of each item in the parcel. For example what is each item made of and how is it being used. It should also contain the number of of units of each item. Then you must also include the reason for shipping, the value of the item and its weight, and lastly the signature of the shipper and the date when it was signed.
In foreign trade, you need to secure the three most important documents and part of this is the commercial invoice. Always bear in mind that if the commercial invoice is wrong, the customs will surely hold your goods. It is best to choose the right shipper who has enough experience with this matter.