International shipping and international business operations have many rules and regulations attached to them. This is so that businesses follow procedures for the safe delivery of goods and also so that nothing illegal occurs during shipping and other international business activities. If you own a business that ships goods, it is important to find out what rules are present and follow them.
You can check out what these are by visiting a government office related to international business in the country that you stay in. One document that is linked with international business operations that you may need to get is a commercial receipt.
What is a commercial receipt?
This receipt states the transaction between the sellers along the buyer. The seller or exporter issues the receipt to the buyer or importer when an international transaction is occurring.
What does a commercial receipt do?
The receipt behaves like a contract as well as a proof of sale occurring between the buyer and seller. The receipt is needed for customs clearance so that the duties along with taxes due can be figured out and calculated. The receipt will let one know the cost, value, along quantity of goods that are being sold. It will also allow one to know the trade and sale conditions that have been agreed upon by the buyer as well as the seller.
How to create a commercial receipt?
When making a commercial receipt, it must be able to be used for customs clearance, financial record-keeping, as well as for legal protections. The following points can be considered when making a commercial receipt:
Make a proper template:
Because this is a professional document, you must type it carefully without any errors. You can type it in Microsoft Word and include the important information on it. It should have a heading like “Commercial Receipt”. You can then include a table that states the details required.
Seller’s details:
State your company’s contact details. These should be valid so that you can be easily reached. Include your company’s name plus address, email address, contact number, etc.
Customers’ information:
The receipt needs to include the right details of the buyer. This can include the name of the buyer or the company name if a company is buying from you. State their address. You can include the shipping address if this is different than the billing address. You may even include the custom’s official address and location.
Invoice number:
The receipt must have a unique invoice number along with harmonized tariff codes. All the receipts you have must have their identification number.
Customer’s reference number:
You need to have a space that includes the buyer’s reference number. This will help one know which consumer they are handling if there is some company.
Sale terms:
This will include details related to the risk along with the cost you as well as the buyer are pursuing due to working together. You even need to add your payment terms on the receipt. Also, state what your preferred currency of payment is. On the receipt you need to state how the goods are being shipped. Also, state the quantity of the product being shipped.
Describe items:
Give a detailed description of the items that are being shipped. The receipt needs to include the appropriate measurement as well.
Price:
You need to state the total price of the products sold within the shipment. Include the complete commercial unit price as well. If there are any additional costs, include them on the receipt.
Packaging signs:
It is important to state the markings and symbols present on the shipment.
Signatures:
Include an area where signatures should be present and the name of the concerned individual.
The receipt provides all the necessary details
This receipt is important as it aids customs officials in clearing one’s shipment. This is because the receipt gives all the necessary details that they require. Your products will not be able to be shipped across international borders if you do not have a commercial invoice. The receipt is needed for customs clearance. The receipt even acts as proof of a transaction letting one know that both parties have agreed on the sale and its terms. Therefore it is important for financial record-keeping as well.
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