The proforma invoice is the first formal document issued in an international transaction. While it is not legally binding in accounting terms, it serves as a structured international quotation. It allows the buyer to initiate key procedures such as opening a letter of credit, applying for import licenses, or securing foreign currency. It should include a full description of the goods, quantities, unit prices, Incoterms, payment terms, delivery method, applicable currency, and expiration date. It plays a key role in both logistical and financial planning.<\/span><\/p>2. Commercial Invoice<\/b><\/h3>
The commercial invoice is one of the most critical documents in international trade. It formalizes the sale between exporter and importer and is required by customs to assess duties and taxes, and by banks in cases involving letters of credit or documentary collections. It must detail the parties involved, full product description, HS code, Incoterm, value (FOB\/CIF), payment terms, beneficiary bank details, and purchase order reference. Mistakes can result in customs blocks or payment refusal.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t