On this page you can find most common discrepancies under a commercial invoice.
Important Definitions Regarding the Commercial Invoice under Latest Letter of Credit Rules:
According to UCP 600 latest letter of credit rules a commercial invoice need not to be signed but almost all custom authorities require manually signed commerial invoice. As a result make sure that commercial invoice is signed and stamped properly as per letter of credit terms.
When a credit demands presentation of an “invoice” without further description, this will be satisfied by the presentation of any type of invoice (commercial invoice, customs invoice, tax invoice, final invoice, consular invoice, etc.) except invoices titled with “provisional”, “pro‐forma” or the like.
An invoice should be issued by the beneficiary. In a transferrable letter of credit, the second beneficiary could issue the commercial invoice.
The invoice should show exact description of the goods, services or performance shown in the letter of credit. The description of goods, services or performance on an invoice is to reflect what has actually been shipped, delivered or provided.
A commercial invoice should indicate the value of the goods shipped or delivered and the unit prices, when stated in the credit. Invoice should be issued in the same currency as that shown in the letter of credit.
Invoice is a commercial document. In letters of credit transactions it is mostly called as commercial invoice by banks. Article 18 of UCP 600 governs operations related to commercial invoice. Commercial invoice is one of the core documents in letters of credit transactions as a result almost all letters of credit request presentation of a commercial invoice.