Ans. Commercial Invoices : This is the first basic and the only complete document among all commercial documents for the shipment. Besides fulfilling the obligation under the export contract, the exporter needs this document for a number of other purposes including: i) obtaining export inspection certificate ii) getting excise clearance iii) getting customs clearance and iv) securing incentives. Thus, this document is prepared at both the pre- shipment and post-shipment stages.
In the first place, Commercial Invoice is a document of contents that describes details of goods sent by exporter. It is the statement of account, which must contain identification marks and numbers, description of goods and quantity of goods.
Commercial invoice must describe the goods shipped by the exporter. The description of goods must correspond exactly with the description given in the contract or the letter of credit. It means that there should not be any difference (including spelling) between these descriptions. Thus, if a contract describes the goods as "Ten Thousand Pairs of Blouses and 1 Skirts", the exporter should not describe them as "Ten Thousand Blouses and Ten Thousand Skirts", though logically both the descriptions mean the same.
Sometimes description of the goods includes the number of packages and the type of packing material. Thus, if the contract specifies shipment to be made in "ten new gunny bags", the exporter should send the contracted goods and describe them as needed. If the commercial invoice wrongly describes the shipment as "ten gunny bags" instead of "ten new gunny bags", the bank may refuse to honour shipping documents and not pay for them.
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