Commercial invoice

A commercial invoice is the seller’s bill of sale to the buyer, the primary document customs uses to assess duty and the bank uses to check value under a documentary credit. It states the seller and buyer, the goods description, quantity, unit and total price, the currency, the Incoterms 2020 rule and named place, the country of origin, and the payment terms. Customs derives the transaction value for duty from it, so the goods description and value must match the packing list, the bill of lading, and any certificate of origin. Under UCP 600 the invoice must be issued by the beneficiary and made out to the applicant.