Our glossary simplifies common industry terms in freight and logistics into clear, easy-to-understand explanations.
An Invoice is a commercial document that records a transaction, detailing the buyer and seller, product name, quantity, unit price, total price, trade terms, and payment method. In international trade, commercial invoices are also crucial for customs clearance, foreign exchange settlement, and taxation. Invoices must be authentic, complete, and consistent with the packing list and bill of lading to avoid customs clearance delays or tax evasion due to discrepancies. Electronic invoices and standardized templates can help reduce errors and improve efficiency.
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