A Free Trade Zone (FTZ) can be described as a specific region within a nation’s borders where merchandise can be brought in, warehoused, handled, and sent out again in accordance with particular customs rules, typically without the imposition of customs tariffs. These regions are frequently situated near significant maritime harbors, global air terminals, and the nation’s boundaries—locations that possess numerous geographical benefits for commerce.Read More
Find easy-to-understand explanations of the most common freight forwarding and shipment terms
A commercial invoice is a document the seller issues and sends to the buyer when goods are shipped. It specifies details such as the date of shipment, payment terms, item descriptions, the quantity of items shipped, the unit price per item, total cost, and applicable taxes.
The commercial invoice serves as an official record of the sale and may be required for customs clearance in some countries. It is typically used for international shipments where customs duties or taxes may apply.
Unlike a bill of lading, a commercial invoice does not carry the legal title of goods.