Trade Documentation
Commercial Invoice
Also known as: Customs Invoice
The commercial invoice is the seller's formal bill for the goods and the single most important document in the customs entry, since it establishes the transaction value on which duty is usually assessed. A complete invoice identifies the buyer and seller, describes the goods precisely, states quantities, unit prices, and total value, records the currency and terms of sale (the Incoterm), and notes the country of origin. Customs authorities, banks handling a letter of credit, and the importer's broker all depend on the invoice's accuracy, and discrepancies between it and other documents are a leading cause of delays, queries, and valuation disputes.
The document CBP cares most about and the one most often thrown together. It should describe the goods well enough to classify them, state the terms of sale, and show any discount, commission or assist. A one-line invoice reading "goods" invites a request for information and deserves one.
Where it matters for compliance
- The invoice must carry the particulars required for entry, including a description adequate to classify.
- Discounts, assists, royalties and commissions bear on customs value and must be disclosed.
Related terms
Reviewed by a licensed customs broker. Definitions are general information, not legal or customs advice for a particular shipment. Duty rates, tariff programs and agency requirements change frequently.