Discover the Best International Commercial Invoice Template for Management

International commercial invoice template for Management

welcome to this episode of trade nuggets trade nuggets is an initiative of foress 20 Global on trade nuggets we present you with simple tips to facilitate your International Trade transactions I'm adum wine and I work as a trade and Export Management Consultant on this episode of trade nuggets I will be working you through the stepbystep process of preparing a commercial Ino you will learn what a commercial invoice is the ear element it contains and its importance in international trade a commercial invoice is a document used in international trade that provides a detailed account of the goods sold from the seller to the buyer it also includes essential information required for Customs clearance and payment processing it's a demand for payment and it serves multiple purposes in international trade the commercial invoice is a very important document because it serves as one a proof of sale it acts as a record of the transaction between the buyer and the seller it also serves as a customs declaration because it provides essential information for the Customs authorities to assess duties and taxes finally the commercial invoice is a payment request it outlines the amount owed by the buyer to the seller now we know why commercial invoice commercial invoice is important now let's take a look at the key elements of a commercial invoice first is the seller and buyer information the next is the description of goods or services next is the terms is the unit and total prices next we have the terms of sales and payment and finally we have the shipping and handing details overall the commercial invoice is a crucial document for ensuring smooth International Trade transactions and compliance with trade recognition now let me walk you through the step by step process of preparing a commercial invoice are you ready okay let go the first step is the Header information the Header information will typically cover the title clearly label the document as commercial invoice next is the invoice number assign a unique invoice number to the commercial invoice next is the invoice date include the date that the invoice is issued step two typically covers the seller information the company name it's full legal name the company address the complete physical address the contact details the phone number of whoever is representing the company and their email address we're still going step by step in the preparation of the commercial invoice step three is to add the buyer information which will typically cover the company name the address and the contact details step four include the shipping information um where are you shipping to the address where the goods are to be delivered the shipping method the mode of Transport AirLand or SE the carrier information the name of the shipping company on step five add the description of the goods the item description write a detailed description of each item include the HS code which is the harmonized system code where applicable include the quantity which could be the number of units include the unit price the price per unit then calculate the total amount for each item step three includes includes the pricing and payment information adding the subtotal which is the total before additional charges include the shipping charges the cost of Transportation the cost of insurance and discounts where applicable then get the total invoice amount which is the final amount you next is the payment terms is it um 30 days or 90 days when is the due date for the payment The Next Step which is the seventh step is to add additional details um what currency is the invoice denominated in where is the country of origin that the goods are being manufactured or originated from what are the terms of sales which means the Inc terms fob CIF or CFR the next step is Step eight in this step you include a declaration and signature the Declaration statement will typically confirm the accuracy of the invoice the signature will cover the authorized signatry the name of whoever it is who is signing the position the person holds and the title of the person that's the signature I'm still working you through the step by step on how to prepare commercial invoice step nine is to attach other documents where applicable some of these documents might be the packing list which details the shipment content certificates for example the certificate of origin or other certificates that are demanded in Step 10 we review and finalize check the accuracy of the commercial invoice verify all the information print or send electronically to the buyer based on what is required here's a sample commercial invoice highlighting some of the steps that we listed earlier the title commercial invoice the invoice number the invoice date the seller information which covers the company name address contact person phone number email address then the buyer information which covers the company name address contact person phone number email address next is shipping information the ship to address the method of shipping the carrier name and the tracking number we're still looking at a sample commercial invoice there's the description of goods the item number the description the h code the quantity the unit price and the total price then we move to the subtotal the shipping charges insurance discounts were applicable the total invoice amount the currency the terms of sale and the payment TS and next we include our bank account details where the payment is going to be made still looking at the sample commercial invoice here's the de aration saying that the information provided on the invoice is accurate and complete and then the space for the signature remember the name of the authorized signatur his title and the date of the signature where there are attachments include what the attachments are on the on the commercial invoice these attachments might be paring Le certificate of origin or other documents in conclusion a well prepared commercial invoice simplifies Customs processing and guarantees precise payment and shipment tracking by following these steps and ensuring that all details are accurately documented you can create a thorough commercial invoice that fulfills International Trade requirements thank you for joining me today on tra nuggets with I hope you can now prepare commercial invoice Yourself by following the steps that were listed if you need a commercial invoice template or assistance in preparing your own commercial invoice please send me an email at info@ for20 global.com stay tuned for our upcoming video with practical tips to enhance your International Trade transactions don't forget to like to subscribe and share this video have a great day and all all the very best in your international trade in for