What is Commercial Invoice in Export Import Business?
In apparel export import business, commercial invoice is an evidence or record of the transaction between the importer and the exporter which is a mandatory document for customs clearance. When the goods are available then exporter issues a commercial invoice to the importer in order to charge him for the exported goods. It should be noted here that, commercial invoice always contains some basic information’s on the transaction. It has too much importance in customs clearance.
Types of Documents Required for Export Customs Clearance:
The most important documents listed in “shipping documents” for customs clearance which also known as “export documents check list” have pointed out in the following:
- Information of the exporter and the importer (Name and Address),
- Date of issue,
- Number of invoice,
- Bill of loading or airway bill,
- Details description of the export goods (Name, quality, etc.)
- Unit of measure,
- Unit value,
- Insurance certificate,
- Quantity or amount of goods,
- Import license,
- DEEC/DEPB /ECGC or any other documents for duty benefits,
- Total item or products value,
- Total value of invoice,
- Industrial License,
- Test report,
- GATT/ DGFT declaration,
- Packing list,
- Purchase order/ letter of credit,
- RCMC (Registration cum Membership Certificate),
- Central excise document,
- Currency of payment (The equivalent amount must be indicated in a currency freely convertible to Euro or other legal tender in the importing EU country),
- Payment terms (Method and date of payment, discounts, etc.).
You may follow What Types of Documents Required for Apparel Buyer?
What is Single Administrative Document (SAD) Used in Apparel Shipment?
In export import business, SAD stands for “single administrative document”. It is the common import declaration form for all the EU countries. By using single administrative document form, all the goods imported into the EU must be declared to the customs authorities of the respective EU country.
Single administrative document (SAD) contains the below information’s for customs clearance:
- Documentary approval of origin, normally used to apply a tariff preferential treatment,
- Document of transport,
- Value of custom declaration,
- Document of community surveillance,
- Cites certificate,
- Documents required for Excise purposes,
- Certificate which confirms the special nature of apparel product,
- Commercial Invoice,
- Inspections certificates,
- Import licenses,
- Documents to support a claim of a tariff quota,
- Evidence to support a claim for VAT relief.
Merchandiser at Fashion Xpress Buying House.
Badda, Dhaka, Bangladesh.