Introduction to International Trade Documentation – Part 3

The Commercial Invoice

The commercial invoice is the key transaction or accounting document. It identifies the seller and buyer, gives identifying numbers such as invoice number, date and shipping date, identifies the mode of transport, delivery and payment terms, and gives a complete list and description of the goods or services being sold including quantities, prices, and discount.

The Bill of Lading

The bill of lading is the key of transportation document. It is issue by a carrier such as shipping line or airline to a shipper (the exporter or seller), signed by the captain, agent, or owner of a vessel and furnishes written evidence of the receipt of the goods (cargo), the conditions on which transportation is made (contract of carriage), and the engagement to deliver goods at the prescribed port of destination to the lawful holder of the bill of lading. A bill of lading is, therefore, both a receipt for merchandise and a contract to deliver it as freight. It can also serve as the title document, in which case whoever holds the document can claim possession of the goods.

The Certificate of Origin

The certificate of origin establishes the country of origin of the goods shipped. The importer must typically submit it to the import authority of the country of import.

The Export Declaration

The export declaration is the formal statement by the exporter to the export authority identifying the seller, buyer, goods shipped, date of issuance, country of origin and country of final destination of the goods, quantity and description of the goods, and shipping detail. This is issue by the country of export to control exports, compile trade statistics and assess fees.

The Import Declaration

The import declaration is the formal statement by the importer to the import authority identifying the seller, buyer, goods shipped, date of issuance, country of origin and country of final destination of the goods, quantity and description of the goods, and shipping detail. This is issue by the country of import to control imports, compile trade statistics and assess duties.