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As in all domestic transactions, the Commercial Invoice is a bill for the consignment transferred from the purchaser to the seller. It generally serves a dual purpose on import shipments: it allows the exporter to claim his money and assists the importer in getting the goods cleared through customs. Some governments also use the form to levy the appropriate customs duties. A commercial invoice is usually sufficient documentation for the clearance of goods. To be considered valid, it must include a detailed breakdown of all the variables of the shipment: Exporter/Importer name and address Description of the shipment Unit and extended price Currency of settlement Terms of delivery/terms of payment Reference numbers Import licenses Freight included or excluded The invoice should always be signed and dated by the exporter; this will certify the validity of the shipment and the form itself.

An Export Packing List, similarly to the commercial invoice, itemizes the material in each individual parcel and indications the type: box, crate, drum, carton, etc. It shows the net, legal, tare, and gross weights and dimensions for each package. Its markings should be shown along with buyer and seller references. The list itself is used by the shipper or agent to determine either the total shipment volume or if the cargo being shipped is valid. It can also be used by Customs officials to check the actual cargo contents. As there may not be a standard format for packing lists, it is critical that the content be exact. Even the most minor errors may cause delays in shipment; possibly resulting in the exporting firms not getting paid or the seizure of the goods by Customs. The packing list is always secured to the outside of the package in a waterproof envelope marked: “Packing List Enclosed”.

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This type of Certificate of Origin is given towards goods that are subject to preferential tariff treatment in the payment of duties. These duties may be a reduction of the normal tariff, or it also may be a complete exemption of the tariffs. Such a situation arises when two or more nations reach a trade agreement entailing such exemptions when goods are exported or imported between these nations. more details can be found on - https://www.eicindia.gov.in/

An Importer Security Filing is a filing process that is required by the United States Customs and Border Protection (CPB) which requires import containerized cargo information. The information must be transmitted to the agency at least 24 hours before goods are loaded onboard a vessel to the USA. If the ISF is not transmitted in time penalties of up to US$5,000 can apply. The ISF is also known as a “10+2” as it requires importers to provide 10 data elements to CBP and 2 other documents from the carrier of goods (shipping line). An Importer Security Filing document can be created to contain all of this important information to be passed on to different parties.

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