Commercial invoice
A commercial invoice is the seller's bill to the buyer for an international shipment, listing goods, quantities, prices, and terms. It is the central document for customs valuation in most jurisdictions.
Required fields on a typical commercial invoice include: seller and buyer details, Incoterms, description of goods, HS code, quantity, unit price, total value, currency, country of origin, and the carrier or shipping reference. The exact required set varies by destination country and by HS code.
Customs authorities use the invoice value for duty calculation. Underdeclaring the value (to reduce duty) is a real legal risk; overdeclaring also has consequences for export controls and statistical reporting.
The commercial invoice is distinct from the packing list (which is per-piece detail without prices) and from the bill of lading (which is the carriage contract). All three documents accompany the shipment and reference one another via shipment-level identifiers.
Related terms
- Bill of lading vs. shipping manifestA bill of lading is a legal contract between a shipper and a carrier for a single shipment. A manifest is an operational document listing all cargo on a vehicle, vessel, or container, often covering many bills of lading.
- Packing listA packing list is a per-package itemisation of a shipment — usually accompanying a commercial invoice — that lists the contents, weights, and dimensions of each carton or pallet for the receiving party and customs.
- HTS code (Harmonized Tariff Schedule)An HTS code is the standardised classification number assigned to a commodity for customs purposes. The first six digits are globally harmonised under the WCO Harmonized System; further digits are country-specific.
- Certificate of originA certificate of origin is a document certifying the country in which the goods were manufactured. It is used for preferential tariff treatment under trade agreements (USMCA, EU FTAs, others) and for general customs clearance.
- Letter of creditA letter of credit is a bank-issued promise to pay the seller upon presentation of specified documents — typically a bill of lading, commercial invoice, and inspection certificate. It is the standard payment instrument for international trade where buyer and seller don't fully trust each other.
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